The Benchmark Nifty-50 index has been finding resistance at 24,500 and is hovering around crucial support zone of 24,200. Sustaining this is crucial for keeping the trend intact, experts said.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,450 level, a discount of nearly 140 points from the Nifty futures’ previous close.

Buying interest in select heavyweights such as Infosys Ltd, Tata Consultancy Services (TCS) Ltd, Reliance Industries Ltd, HCLTech, Larsen & Toubro (L&T), Bharti Airtel and ICICI Bank lifted the indices higher.

The trends on Gift Nifty indicate a weak start for the Indian benchmark index. The Gift Nifty was trading around 24,215 level, a discount of nearly 80 points from the Nifty futures’ previous close.

The Nifty-50 index that ended marginally higher week on week however continues to consolidate within the 24,000-24,500 range and a breakout on either side is expected to determine the next direction,