The Nifty 50 ended the week at 24,894, extending its rebound with weekly gains of nearly 1% - Religare Broking Ltd
Market Outlook
The Nifty 50 ended the week at 24,894, extending its rebound with weekly gains of nearly 1%. The India VIX has weekly decline of nearly 12%, reflecting easing volatility and signalling expectations of near-term market stability. On the derivatives front, fresh Put OI buildup at 24,800 and 24,700 indicates immediate support zones in the event of a corrective move. On the upside, significant Call OI concentration at the 25,000 strike suggests a key resistance level. From a technical standpoint, the index has reclaimed its 50-day EMA at 24,900, and is expected to inches towards the 25,000 mark.
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