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NSE Nifty sinks below 24,500; is the market bullish set-up under threat?

Technically, the near-term bias for the Nifty is likely to remain favourable as long as it holds above 24,512; below which the index can slip another 2 per cent to test its 200-day moving average.

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Nifty may see limited downside with near support seen at 24,512, suggests technical chart.

Rex Cano Mumbai

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Equity benchmark indices in India were seen trading with losses of over 1 per cent for the second straight trading session on Friday on the back escalating global conflicts, mainly Israel-Iran and uncertainty over the US tariff policies.  The Bombay Stock Exchange (BSE) benchmark index was down 1,264 points or 1.6 per cent at 80,428 levels in early deals today; while its counterpart the National Stock Exchange (NSE) Nifty 50 index shed 415 points or 1.7 per cent at 24,473.  In the process, the BSE Sensex had tumbled 2,087 points or 2.5 per cent in the