Synopsis
On Tuesday, the Nifty index experienced a downturn, closing with a loss of approximately 100 points after failing to sustain levels above 24,700. Chandan Taparia from Motilal Oswal suggests that if the index holds above 24,442, an upward movement towards 24,700 and 24,800 is possible.
The Nifty index opened flattish, and after the initial gains, it slipped lower on Tuesday. It failed to hold above the 24,700 zones and anchored with minor attempts of recovery seen but it eventually faded.The index slipped to the 24,465 levels and closed with losses of around 100 points.“It formed a bearish candle on the daily frame with a longer upper shadow, indicating pressure intact at the higher zones. Now, if it manages to hold above the
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