Indian equity markets closed the week with minimal movement, as benchmark indices struggled to break out of their narrow trading range. Rajesh Palviya from Axis Securities noted that the Nifty index is facing resistance near 24,400, with a support level at 24,000. He highlighted that the market is currently consolidating, with major call writing observed at 24,300 and 24,400 strike levels, while put base concentrations are at 24,000-24,100. Palviya also pointed out that the Bank Nifty is encountering supply pressure at the 56,000 mark, with expectations of it remaining trapped between 54,500 and 56,000 in the near term.

Despite the index's consolidation, Palviya remains optimistic about the broader market, particularly in the midcap and smallcap segments, which are showing signs of strength. He recommended two stocks for positional traders: Amber Enterprises India, targeting ₹9,200 with a stop loss at ₹8,700, and CG Power and Industrial Solutions, which has recently broken out of previous highs, with a target of ₹910-₹920 and a stop loss at ₹855. Additionally, the auto sector has shown strong performance, with stocks like Bajaj Auto and Samvardhana Motherson International expected to continue their upward trajectory.