Nifty breakout isn’t convincing yet; a move above 24,600 could unlock record high: Anand James

Technical analyst Anand James notes Nifty has defended the 24,000 zone but its breakout above 24,200-24,250 lacks conviction, with 24,400 as early resistance and a sustained move past 24,600 required to unlock a new record high. Nifty IT has rebounded from long-term support near 27,200, though confirmation above 29,700 is needed for a durable uptrend toward 30,500-30,900, with Infosys Q1 results flagged as the next key catalyst after healthy numbers from TCS, Wipro and HCL Tech. Bank Nifty reclaimed 58,500 with bullish derivatives positioning; sustaining above 58,700 could open a path to 59,800, while Q1 results from HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank are expected to drive near-term direction, and Kalyan Jewellers closed the week about 21 percent higher.