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Technical View: Nifty 50 needs a decisive breakout above 24,400 for further upside; Bank Nifty remains...
Moneycontrol.com 1 hr ago·30 Jul 2026, 11:18 am
Stocks Moneycontrol.com
Market technicals suggest the Nifty 50 index is currently stuck in a consolidation phase. For the market to move higher, traders are looking for a decisive breakout above the 24,400 level. This resistance level is critical, as a sustained move above it could signal the start of a fresh upward trend.
A breakout above this key mark would likely attract fresh buying interest and push the index toward higher targets. Conversely, if the index fails to hold above 24,400, it may face selling pressure and remain range-bound in the near term.
Investors should monitor the index's reaction to this resistance level closely. A strong breakout with high volume would be a positive sign, while a rejection of the level could indicate further consolidation ahead.
Excerpt from Moneycontrol.com
Technical indicators suggest that Nifty 50 likely to move higher despite near-term volatility 24,400 expected to act as immediate resistance, followed by 24,530-24,600 as next crucial hurdles On downside, immediate support is placed in 24,200-24,100 zone The Nifty 50 extended its northward journey for a second…Read the original at Moneycontrol.com
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