Nifty Ends At 24,187 After Sharp Recovery From 24,102, Sensex Closes At 77,949 Down 161 Points
Nifty recovered strongly from its intraday low of 24,102 to close at 24,187, showing buying at lower levels. Sensex ended at 77,949 after a volatile session. Support near 24,100 remains strong, while resistance at 24,400 continues to cap gains, keeping markets range-bound but stable overall.
Nifty recovered strongly from its intraday low of 24,102 to close at 24,187, showing buying at lower levels. | Image: Wikipedia (Representative)
Mumbai: The Indian stock market saw heavy ups and downs during the day but ended with a strong recovery. Both Nifty 50 and BSE Sensex bounced back in the final hour of trading, showing strength at lower levels despite early selling pressure.
Volatile Session, Strong Late Recovery
Nifty started strong and crossed 24,400 in the morning, touching a high of 24,400.95. However, sharp selling pulled the index down to a low of 24,102.80 during the day.
In the last 40 minutes, strong buying came back. The index quickly moved higher and closed at 24,187.85, down just 43.45 points or 0.18%.
Sensex also followed a similar trend. It fell sharply during the day but recovered towards the end, closing at 77,949.80, down 161.45 points or 0.21 percent, after hitting a low of 77,674.93.
Strong Support At Lower Levels
The recovery clearly shows that the 24,100 level is acting as a strong support for Nifty. Every time the market came near this level, buyers stepped in.
On the higher side, 24,400 is still acting as a resistance where selling pressure is seen.
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Value Buying: Investors found stocks cheap near 24,100 and started buying again.
Short Covering: Traders who had bet on a fall closed their positions, which pushed the market higher.
Technical Support: The 24,100–24,150 zone is seen as a strong support level, helping the market bounce.
Banking Stocks Stable: Banking and heavyweight stocks stopped falling and supported the index.
No Panic Selling: The fall was due to profit booking, not panic. This improved market confidence.
Market Outlook
The market is currently moving in a range. Strong support near 24,100 and resistance around 24,400 suggest consolidation.
If buying continues at lower levels, the market may try to move higher in the coming sessions, but it needs to cross 24,400 for a clear upward trend.
Disclaimer: This article is for informational purposes only and not investment advice. Market data is based on available information. Investors should consult certified financial advisors before making any investment decisions.
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