NIFTY 50 may rise to 24200.00 - 24487.00

Our pivot point stands at 22709.00.

Our preference

The upside prevails as long as 22709 is support.

Alternative scenario

Below 22709, expect 22231 and 21947.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. NIFTY 50 Index is above its 20 and 50 period moving average (respectively at 22511.30 and 22417.60).

Supports and resistances

24774.00 **

24487.00 *

24200.00 **

23913.00

23117.50 last

22896.00

22709.00 **

22231.00 *

21947.00 **

Number of asterisks represents the strength of support and resistance levels.