Nifty's next big move hinges on 24,800, says Geojit's Anand James
Anand James, Chief Market Strategist at Geojit Investments, stated that the Nifty's recent rebound from a five-session decline hinges on surpassing the 24,800 mark. He noted that derivatives positioning indicates a bullish shift among traders, aiming to establish support around 24,400-24,500, with a breakout above 24,800 potentially leading to a rally towards 25,000. The market's ability to maintain this upward momentum will depend on the performance of banking stocks.