business ๐ Nifty targets 24,400 breakout; support at 24,150
The Nifty 50 closed flat, consolidating within a tight 24,200-24,300 range on Friday. Kotak Securities noted that the 50-day SMA around 24,150 is a crucial support level for traders. A successful break above 24,400 could push the index toward the 24,500-24,700 zone. Conversely, breaking below 24,150 could trigger negative sentiment, potentially pulling the index toward 24,000. Bank Nifty also showed strength, with the next major resistance being 58,000.