Indian equity markets ended a choppy session on Friday, August 21, largely unchanged as investors held on to Thursday’s recovery but lacked conviction to drive the benchmark indices higher. The NSE Nifty50 closed at 24,252, up 20 points, or 0.08%.
From a technical perspective, the index remained within the 20-day and 50-day exponential moving averages (EMAs) on the daily chart. The Relative Strength Index (RSI) continues to show a bearish crossover, suggesting that momentum remains subdued. Analysts expect the market to remain sideways to mildly positive in the near term. On the downside, 24,200 remains an important support level; a break below it could drag the Nifty towards 24,000. On the upside, 24,350 is the immediate resistance, above which the index could move towards 24,500.
