The Nifty index managed a rebound at the end of the week, successfully exiting its established consolidation range. However, technical experts warn that this shift does not yet signal a definitive uptrend.
According to Anand James of Geojit Financial Services, the current momentum requires further validation. While the breakout is a positive sign, traders should monitor the 24,400 level closely, which serves as a primary point of resistance in the immediate term.
The path toward record highs appears contingent on a clean, sustained move above 24,600. Until the index can consistently trade beyond this threshold, market participants are advised to maintain a measured outlook rather than rushing into aggressive long positions.
For those looking for active setups, James highlighted specific opportunities within the current volatility. India Cements and Bharat Forge have emerged as top picks, showing potential for traders despite the broader market's cautious stance.
