The Nifty index could be set for a minor pullback rally in the upcoming trading session, with key resistance anticipated at the 24,750 level. After last week's volatility, a slight rebound may present short-term trading opportunities.
Market analysts suggest that Monday's session could bring a temporary uptick as technical indicators show oversold conditions, which may invite buying interest. However, the 24,750 mark remains a crucial resistance level, potentially limiting gains if broader economic concerns persist.
Traders may consider adopting a cautious strategy focused on short-term gains. Analysts recommend focusing on sectors that displayed resilience in the recent downturn, such as FMCG and IT, while avoiding high-risk positions in sectors with ongoing volatility, such as banking and energy.
Maintaining a close watch on global markets and economic data will be essential, as external factors are likely to influence Monday’s trading sentiment.
