Nifty opened flat and ended the day with a gain of around 41 points. It marked the fifth consecutive positive close, though the uptrend has been gradual without significant dips.
The hourly momentum indicator shows a negative crossover and divergence, suggesting potential intraday pullbacks. Nifty is nearing the 78.6% retracement level at 24,830, which could limit further gains. Consequently, the market trend remains sideways, with a consolidation range between 24,200 and 24,900. Caution is advised for long positions.