On the technical front, Nifty 50 is approaching a key supply zone, with immediate resistance placed in 24,700–24,800, followed by a more critical hurdle around 25,000, coinciding with the confluence of the 100-day EMAs. On the downside, immediate support is seen near 24,000–23,950, which is likely to act as a near-term cushion. A breach below this band could expose the index to further weakness, with stronger support positioned around 23,500, a level that previously served as a base during the recent corrective phase.
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