High crude oil prices, persistent geopolitical concerns in the Middle East, and elevated international bond yields continued to weigh on risk appetite for Indian investors lately. The recent efforts by the US Treasury to ease pressure on bond yields failed to provide lasting comfort, as rising crude prices and renewed inflation concerns remained key overhangs for global markets. Analysts say, a follow through strength above Friday’s high 24,284 for Nifty will signal extension of the pullback towards 24,400 levels in the coming sessions. While failure to move above Thursday’s high will signal consolidation in the range of 24,000-24,250.
