Nifty 50 is expected to show a flat to gap-up opening in the upcoming session, especially considering the expiry day dynamics. The market is currently trading near a crucial resistance zone, making the next move highly dependent on breakout confirmation.
The key level to watch is 24150, which is acting as a strong resistance due to continuous seller presence. If the index manages to break and sustain above this level, a sharp upside rally may follow.
On the downside, 23835 is an important support level. If the market fails to break resistance and stays below the zone, traders can expect a sideways movement with limited momentum.
Market participants should closely monitor price action till 9:30 AM, as early reactions will define the trend for the day.
Key Levels:
Resistance: 24150
Support: 23835
Targets (on breakout): 24300, 24460
