“Rupak De of LKP Securities notes that the Nifty is currently in a critical "congestion zone" around 24,500, facing strong resistance at the 20-week EMA and 61.8% Fibonacci retracement. A meaningful correction from current levels cannot be ruled out in the next one to two weeks if the index fails to move above 24,750. On the downside, 24,000 is a crucial support, below which weakness could intensify.”

Rupak De’s track record: 27 graded calls · 95% CI 34–69%