The Nifty 50 index saw a slight decrease of 0.1%, ending its two-day winning streak due to market volatility on November 26.
The index is still within the upper range of the Bollinger Bands, suggesting a potentially positive outlook.
The 100-day exponential moving average has acted as a resistance level in the 24,300-24,350 range, which the index has struggled to surpass for two consecutive sessions.
Analysts believe that a clear breakthrough above this resistance level could result in an upward movement towards the immediate target of 24,550.
On the other hand, the 24,000-24,100 range is expected to provide support for the index.
Therefore, experts predict that the trading range for the upcoming sessions will be between 24,000 and 24,350, which are important levels for traders to monitor closely.