Nifty may test resistance in range-bound market; investors must guard profits and stay stock-specific

The market is anticipated to open steady on Monday, with potential resistance levels at 24,700 and 24,850. On the downside, support levels are expected at 24,250 and 24,050. The weekly Relative Strength Index currently sits at 69.71, indicating a neutral market sentiment without any divergence from the price. The MACD remains bullish, although the narrowing histogram suggests a slowdown in upward momentum despite the index’s continued rise.