Technical View: Nifty 50 needs follow-up buying to surpass the 200 DEMA for further upside toward previous swing highs; Bank Nifty eyes 58,700
The Nifty 50 now requires sustained follow-through buying above the 24,350-24,400 zone, which coincides with the 200-day EMA and serves as the immediate resistance area, to move towards the previous swing highs of 24,530-24,600. These levels are crucial for triggering a fresh leg of the rally towards 24,800-25,000.