On Friday, the Indian stock market saw the benchmark Sensex rise above 78,000, while the Nifty 50 reached 24,200. Despite positive global cues, including a ceasefire between Israel and Lebanon and potential talks between the US and Iran, the Nifty 50 faces strong resistance at the 24,400-24,500 level. Technical analysts, including Aakash Shah from Choice Broking, indicate that this resistance is due to previous support levels turning into supply areas, compounded by heavy call writing at this threshold. The index has shown signs of a weakening trend, forming lower highs and lows, and momentum indicators remain neutral. Analysts suggest that a decisive breakout above 24,500 is necessary for further gains, targeting levels of 24,800-25,000. On the fundamental side, the Nifty 50 is trading nearly 8% below its 52-week high, underperforming compared to global peers like the S&P 500 and Nasdaq, which are at record highs. Factors such as limited exposure to high-growth sectors and macroeconomic vulnerabilities contribute to sustained foreign institutional outflows, hindering the index's potential upside.