Nifty 50 is currently approaching a key near-term support zone around 23,800, with the next meaningful cushion placed in 23,500–23,550, which aligns closely with the 21-DMA. On the upside, the index is likely to encounter initial resistance in 24,250–24,300. Meanwhile, a stronger supply zone is seen in 24,800–25,000, where multiple key moving averages converge, potentially limiting further upside in the near term.
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