Warning-
as we can see that Nifty is currently in a range-bound consolidation phase after recent correction, but the broader structure remains constructive with buying emerging on dips and supports holding firm. Analysts expect the index to oscillate within a 23,400–24,500 range, indicating consolidation rather than reversal, which typically precedes a breakout move
On the technical front, RSI is hovering around 55–58 levels, which places it in a bullish zone (not overbought), suggesting there is still room for upside expansion . This type of RSI behavior generally supports trend continuation rather than weakness.
Disclaimer– Registration granted by SEBI, membership of a SEBI recognized supervisory body (BSE) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclosure– Investments in securities market are subject to market risks, read all the related documents carefully before investing.