The NIFTY 50 closed at 24,051 (+1.16%) on the day, reflecting a rebound in market sentiment and a recovery from recent volatility. The index traded within a day range of 23,856 to 24,074, indicating a solid upward momentum as it moved closer to the upper end of this range.

From a technical perspective, the index remains above its 20-day simple moving average (SMA) of 23,237, suggesting short-term bullish sentiment. However, it continues to trade below the 50-day SMA of 24,507, which may act as a resistance level in the near term. The relative strength index (RSI) at 52.5 indicates a neutral market condition, suggesting that the index lacks strong overbought or oversold signals.

Looking ahead, key levels to watch will include the psychological resistance at 24,500 and the support level around 23,800. A sustained breakthrough above the 50-day SMA could signal further strength, while a drop below 23,800 may warrant caution among investors.