Indian stock market closed in the red on Friday, down nearly 1%, influenced by weak global cues and a spike in Brent crude oil prices after Israel's attack on Iran's capital. Nifty 50 index fell 169.60 points to close at 24,718.60, while BSE Sensex lost 573.38 points to end at 81,118.60. Nifty Bank closed 555.20 points lower at 55,527.35.

Over the week, Nifty index declined 284.45 points, and Sensex dropped 1,070.39 points. Technical analyst Laxmikant Shukla from Yes Securities mentioned that Nifty has strong support at 24,400, which was evident during the previous swing.

Shukla highlighted that Nifty faced resistance at 25,200, leading to a correction. Currently, Nifty is trading below the 20-day moving average (20-DMA). If it falls below 24,400, further correction is expected.

Geopolitical tensions, especially the Israel-Iran conflict, could impact market movements. Shukla emphasized that 24,400 is a crucial support level for Nifty. Maintaining above this level may lead to consolidation. The resistance is at 24,850, coinciding with the 20-DMA. Crossing this could push Nifty towards 25,000 and 25,200.