Nifty bullish but faces resistance at 24,950; watch for breakout or reversal

Analysts maintain a cautiously positive outlook on Nifty, though volatility remains high. A decisive break above 24,950 could trigger further upside towards 25,250. However, the index faced renewed selling pressure following US tariff concerns, erasing early gains.

Key Market Movements:

Nifty opened 213 points lower but rebounded 321 points from the day’s low (24,635).

After touching 24,956, it reversed sharply, closing 86 points down at 24,768.

Market breadth weak – 39 Nifty stocks declined; Adani Enterprises & Tata Steel were top losers.

HUL (+3%) gained on steady Q1 results, while Maruti Suzuki ended flat despite stable earnings.

Outlook:

Short-term trend remains positive but choppy.

24,950-25,000 is a critical resistance zone.

Global cues & earnings to dictate further direction.