Nifty 50 Consolidation Likely Below 24,000

The Nifty 50 rebounded 1% after a five-day sell-off but failed to sustain above 24,000, closing below its short-term moving averages. Immediate support is at 23,800, with crucial support at 23,600. A sustained move above 24,000 could target 24,100-24,200. Monthly F&O expiry is on July 28. Momentum indicators show gradual improvement but need confirmation.