The Nifty is bouncing back from an oversold condition

The Nifty RSI went to 28 and is now back above 30, out of the oversold region. The five-wave fall ended, and we started a bounce or rally. The next major resistance is near 24537, near the wave IV high. Lastly, the 20dma was a spoiler for the last bounce attempt and is placed at 24031. If that cannot do it, the bears will cover everything.