As Indian equity markets prepare for a new week on May 4, the Gift Nifty indicates a potential positive start, closing roughly 80 points higher. However, experts warn that the broader market trend remains fragile, largely dependent on factors such as crude oil prices, geopolitical developments, and the outcomes of crucial state elections, particularly in West Bengal. Analysts highlight that the Nifty 50 index hovers around the critical 24,000 mark, which serves as a battleground for bulls and bears. Key resistance levels are identified at 24,300-24,400, while support is noted at 23,800. The Bank Nifty continues to underperform, with significant hurdles at 55,800-56,000. Market sentiment is further complicated by ongoing tensions between the US and Iran, along with high crude oil prices, which remain in the $100–110 range. Investors are advised to watch for developments in the US-Iran situation, foreign fund flows, and the impact of state election results on market dynamics.