Nifty Trade Setup 18 June: Key support seen at 24,700 as markets look for positive global cues
The Nifty 50 closed lower by 93 points on Tuesday, settling at 24,853, amid persistent global uncertainty and geopolitical tensions. Weak cues from international markets weighed heavily on investor sentiment. Except for the IT sector, all major indices ended in the red.
Despite the broader market weakness, Tech Mahindra, Infosys, and Asian Paints stood out with relative strength, offering some resilience in an otherwise negative trading session.
Key Level to Watch:
Experts suggest that 24,700 will act as a crucial support level in the coming sessions. A breakdown below this could accelerate selling pressure, while a rebound from here may bring some relief to traders looking for a bounce-back.
The market is now closely watching for positive triggers from global markets—be it easing geopolitical tensions or better-than-expected economic data—to guide the next move.
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