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Below the Quote on Nifty by Rupak De, Senior Technical Analyst at LKP Securities

"Indian stocks witnessed a volatile session, with the Nifty and Bank Nifty decoupling from each other. The Nifty slipped lower as IT and Oil & Gas stocks came under profit-taking pressure. 

Technically, the index appears to be in a consolidation phase, which may continue for the next few days. On Monday, the Nifty closed below the 25,000 mark after two days of holding above it. The index may remain under pressure unless it reclaims the 25,000 level.

On the downside, the Nifty could drift toward the 24,800–24,750 zone. A deeper correction may be likely if it breaks below 24,750. Conversely, a move above 25,000 could trigger a rally toward the 25,250–25,350 range."

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