Despite recent volatility and a prevailing negative short-term trend, the Nifty Index shows signs of a potential bullish reversal. Tuesday’s sharp buying and the formation of a positive candle pattern suggest an upward shift. If the index surpasses the 24,650-24,700 level, further gains towards 24,850-24,900 are anticipated in the near future. Immediate support is observed at 24,100, according to Nagaraj Shetti of HDFC Securities.
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October 30, 2024