The Nifty 50 index is targeting a breakout above 24,200 following a truce between the United States and Iran, which has lifted trader sentiment. According to Sudeep Shah, head of technical and derivative research at SBI Securities, immediate resistance lies in the 24,150-24,200 zone, and a sustainable move above this could see the index advancing towards 24,400 and 24,600 in the near term. The index recently closed at 23,997.35, reflecting a significant 3.78% increase. The Bank Nifty index is also showing promise, with resistance noted at 56,200-56,300. The overall market sentiment has been positively influenced by the Reserve Bank of India's decision to keep repo rates steady, resulting in notable gains across bank, auto, and realty stocks. The broader market mirrored this performance, with both the Nifty Smallcap 250 and Nifty Midcap 150 indices rising nearly 4%.