Santosh Meena, Head of Research at Swastika Investmart, commented, "The Nifty has faced challenges in breaking through its 20-day moving average (20-DMA) near the 24,500 level. For a significant short-covering rally to take place, it is crucial for the index to sustain above the 20-DMA. Key resistance levels are seen at 24,700 and 25,000. On the downside, immediate support is at 24,075, followed by additional support at 23,800 and the 200-DMA, which stands around 23,500.
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