Trading Plan: Will Nifty 50, Bank Nifty extend rally as oil falls below $100 on Hormuz reopening hopes?

The Nifty 50 may march toward psychological 24,000 zone (which coincides with 50-day EMA) but sustainability above previous week’s high (23,860) is necessary for bulls to stay in power. Until then, the consolidation may continue with 23,600-23,500 as support.