Nifty shows signs of an upside bounce, forming a double bottom pattern around 24,700 levels. A move above 25,000 could lead to 25,400-25,500 resistance levels. Analysts suggest a ‘buy on dips’ strategy as long as support at 24,690 holds.
Short-term market weakness likely; defensive sectors poised to outperform: Rohit Srivastava
Rohit Srivastava suggests the recent market rally from early April might be ending, entering a corrective phase influenced by geopolitics and the upcoming FOMC meeting.