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Nifty

Nifty staged a strong recovery on Monday, rebounding from its previous swing low support at 24340 and closing above the prior swing high resistance at 24585, though it couldn’t secure a consecutive close above that mark. This move breaks the recent lower-high, lower-low pattern within the Falling Wedge, hinting at a potential trend shift. The RSI bullish crossover signals improving momentum, with upside targets at 24860–25050. A decisive close above 24560 would strengthen bullish conviction and support a long-only bias. India VIX remains near 12; a sudden spike in volatility alongside a stronger OI PCR could trigger bargain hunting opportunities across sectors. While the broader setup favors a breakout, traders should wait for sustained trade above resistance and maintain strict risk controls.

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