Nifty 50 poised to test 24,400-24,500 zone

The Nifty 50 may consolidate after a healthy rally, but the overall trend remains positive with potential to test the 24,400-24,500 zone as long as it holds above the support of 24,100-24,000. The index gained 1.1% on July 29, marking a strong start to the August series, with improved momentum and a breakout above key resistance levels.