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The Indian stock market is expected to witness a volatile session on Thursday, with the Nifty index projected to find support at the 24,753 level. This key support level will be crucial for traders to watch as it may influence market sentiment and trading strategies for the day.
Technical analysts have identified several other key levels to keep an eye on. The 24,900 level is anticipated to act as a resistance point, while the 24,600 level could provide additional support. Traders should be prepared for potential price fluctuations around these levels, as they may offer opportunities for both long and short positions.
To navigate the volatility, analysts recommend focusing on specific strategies. One approach is to prioritize trading based on confirmed breakouts or breakdowns of these key support and resistance levels. Another strategy involves utilizing stop-loss orders to manage risk and limit potential losses. Additionally, traders should carefully consider the overall market context and global events that could impact market sentiment and trading decisions.
Source: Stock Market Highlights: 24,753 level to offer short term support to Nifty. How to trade on Thursday