Nifty likely to find support at 24750

Nifty Index opened flattish and recovered in the first half of the ☐ session but failed to hold above 25100 zones and slipped below 24900 levels.

- Motilal Oswal Team

Index remained quite volatile and bears took over in the middle of the day to finally close with losses of around 120 points. It formed a bearish candle on daily and failed to hold on to the previous day's recovery. Now if it manages to hold 24850 zones than some bounce could be seen towards 25150 then 25250 zones while on the downside supports are shifting lower at 24750 then 24650 zones.

India VIX was up by 2% from 13.36 to 13.63 levels. Volatility slightly inched higher after the cool off of the last couple of days and created discomfort for the bulls.