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Nifty 

The Nifty 50 continues to exhibit resilience, holding firmly above its 5 DEMA support zone, which coincides with the crucial 24000 option base, highlighting a strong foundation for the ongoing trend. The index has been moving within a narrow consolidation band of 24000–24200, indicating a healthy pause following its recent decisive breakout from a declining channel pattern. This breakout was supported by a strong bullish gap near the 23800 zone, which now serves as a robust support for the current series. Momentum indicators remain supportive, with RSI trending around 59 and ADX sustaining above 27, reflecting a positive bias and strengthening trend momentum. The current consolidation near the higher band suggests accumulation, keeping the bullish undertone intact. On the upside, a sustained move above the 24200 hurdle could act as a trigger for fresh buying interest and short covering, potentially driving the index towards the 24400–24500 zone in the near term, with extended resistance placed near 24750 as per the breakout structure. On the downside, immediate support is placed at 24000, while the broader support zone lies between 23750 (20 DEMA) and 23645 (gap support). A breach below this zone may weaken the trend and lead to near-term consolidation. Overall, the outlook remains cautiously optimistic with a buy-on-dips approach favoured

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