"Nifty 50 Eyes Breakout from Key Support Zone"

**Support Zone (Red Rectangle)**:

* Strong support between ₹24,290 – ₹24,340.
* Multiple price bounces have occurred here, indicating demand presence.

**Resistance Levels**:

* **Immediate resistance**: ₹24,409.65 (horizontal red line)
* **Next resistance**: ₹24,494.45

**Support Levels**:

* **Immediate support**: ₹24,290
* **Next support**: ₹24,240.65

**RSI (Relative Strength Index) – 14 Period**

* RSI is at **36.25**, near the oversold region.
* Indicates the index may be poised for a short-term bounce.
* Positive RSI divergence is not yet confirmed but should be monitored.

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**Bullish Scenario**:
* A breakout above the black descending trendline (\~₹24,360) with volume can lead to:
* First target: ₹24,409.65
* Second target: ₹24,494.45
* Supported by wedge breakout and RSI recovery.

**Bearish Scenario**:

* Breakdown below ₹24,290 zone can trigger a fall to:
* First target: ₹24,240.65
* Second target: Lower bound of ascending channel (\~₹24,060)