From a levels perspective, the Nifty 50 is approaching a key near-term support zone around 23,800, with the next cushion placed in the 23,500–23,550 range, aligned with the 21-DMA. On the upside, initial resistance is seen at 24,250–24,300, while a stronger supply zone emerges in the 24,800–25,000 range, where multiple key moving averages converge, potentially capping further gains in the near term.
