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Nifty ended Friday’s session with a loss of 34 points and broke the four-day winning streak by forming a small-bodied red candle.Technically, the uptrend remains intact but the RSI on the hourly chart is indicating the possibility of a pullback move or a consolidation within an uptrend, say analysts.Having moved up sharply Nifty is currently facing hurdles at the resistance of 24,000-24,100 levels. Any dip from here is likely to be a buying opportunity. Immediate support is at 23,800 levels, said Nagaraj Shetti of HDFC Securities.What should traders do? Here’s what analysts said:Rupak De, LKP SecuritiesThe sentiment continues to remain strong as the index closed significantly above the critical moving average. However, after a continuous rally, the index looks a bit heavy and might attract profit booking if Nifty sustains below 24,000. On the lower end, the index might fall towards 23,850/23,700 in the short term upon a decisive fall below 24,000. On the higher end, resistance is visible at 24,200.Tejas Shah, JM Financial & BlinkXSome technical indicators are in overbought territory on the short term charts i.e. hourly charts that could lead to knee-jerk reactions, from time to time. The bulls are in full control of the markets at the current juncture and are using every intraday correction to create long positions. The short term moving averages are below the price action and should continue to support the indices on any decline. Support for Nifty is now seen at 24,000 and 23,750-800 levels. On the higher side, immediate resistance for Nifty is at 24,125 level and the next resistance is at 24,300 level.Om Mehra, SAMCO SecuritiesThe index reversed from the 2.618% Fibonacci retracement, which is near the 24,180 level. In the daily time frame, Nifty has formed a bearish inverted hammer. In the hourly chart, the 23.6% Fibonacci retracement level remains at 24,000. If this level is violated, it may extend to 23,850.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

After the markets regulator Sebi approved introducing a fixed price process for delisting companies from stock exchanges, market experts welcomed the move saying that in the earlier book-building regime listing had become a no-exit entry."It is a good initiative by Sebi considering all those entities who attempted delisting in the past few years and were unsuccessful. These entities may attempt again for delisting. With the amended delisting framework now even if the entity fails to acquire 90% of total share capital but if the majority of public shareholders are ready to offer shares then the delisting process can be successful," said Makarand M Joshi of corporate compliance firm MMJC & Associates.He said with the new framework, entry, and exit will be possible and realistic. Under the new mechanism, the fixed price offered by an acquirer shall be at least a 15% premium over the floor price as determined under Delisting Regulations. Public shareholders would be given a binary option to accept or reject the offer at a reasonable fixed price.While describing the new rule as a game changer that can boost M&A deal activity, Abhishek Dadoo of Khaitan & Co. said the old regime enabled delisting through a reverse book build process that often resulted in extraordinarily high prices – rendering the delisting commercially unviable."The new fixed price delisting regime seeks to simplify the road to delisting, which has so far been highly elusive on account of the reverse book build method for price determination," he said.