The repeated defense of that level has kept alive hopes of a short-term bounce, supported by what traders describe as heavy cash buying around 24,600. But a decisive breach, particularly if the conflict widens and crude supply concerns intensify, could accelerate the downside, dragging the Nifty to 24,000, about 3.5% lower from Monday’s close, according to options data from the National Stock Exchange.
Bulls have defended Nifty’s Fortress 24,600 successfully since July. Will it yield this time?
