“Neutral on Nifty 50, viewing the current decline as a healthy retracement rather than a reversal, as it coincides with a 38.20% retracement and a breakout neckline. However, a sustained move below the weekly low of 24,265 would shift the outlook to bearish, potentially dragging the index towards the 24,200-24,150 support zone. A decisive move above 24,500 could trigger a bullish reversal towards 24,730.”