The Nifty 50 defended the support level of 24,400, closing at 24,436, while the Bank Nifty fell to 51,239. Consolidation with a negative bias is expected as long as the Nifty remains below 24,700, with significant selling pressure anticipated if it drops below 24,350-24,400. The Bank Nifty faces resistance between 51,500-51,800, with immediate support at 51,100, where a decline could lead to a major downturn.