Indian headline indices ended with minor gains on Friday, weighed down by FMCG and pharma stocks, though energy counters helped the benchmarks close in the green. It was a volatile session where the BSE Sensex, after swinging 675 points intraday, ended 259.75 points higher (0.32%) at 80,501.99. Meanwhile, the Nifty50 edged up 12.50 points (0.05%) to close at 24,346.70.
Rupak De, Senior Technical Analyst at LKP Securities, said the Nifty witnessed volatility through the week, slipping sharply after facing rejection near the 24,550 level. On the daily chart, a long upper-wick candle suggests selling pressure at higher levels. “Going forward, support is placed at 24,250; a fall below this level might trigger a correction toward 24,000. The index may remain range-bound between 24,000–24,550. Only a decisive breakout above 24,550 may lead to a meaningful rally,” he said.
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