"On the daily charts, we can observe that Nifty has managed to close above the 40-day average (24138). India Vix has cooled off and there has been a significant improvement in market breadth. All these parameters are suggesting that the Nifty is likely to witness continuation of the pullback. On the upside, 24520 – 24550 is the immediate hurdle while 24000 is the immediate support zone from a short term perspective," said Jatin Gedia of Sharekhan.