Nifty forms bullish candle; all eyes on RBI

Nifty has to hold above 24650 zones for an up move towards 24850 then 25000 zones whereas supports can be seen at 24650 and 24500 zones

Nifty Index opened positive and witnessed highly volatile swings within 550 points throughout the day. It dropped in the initial hours after which bulls drove the index for the entire day and took it above 24850 levels. The last hour again witnessed swings of 400 points on either side. It formed a bullish candle and an outside bar and closed with gains of around 240 points. Now it has to hold above 24650 zones for an up move towards 24850 then 25000 zones whereas supports can be seen at 24650 and 24500 zones.