After a six-week decline, Nifty 50 showed positive signs, facing resistance at 24,800 and support at 24,200. Analysts predict a 24,200-24,800 range in the near term, with a potential rally towards 28,000 based on Elliott Wave Theory. Experts suggest accumulating quality large-caps in sectors like defence, pharma, and autos, highlighting stocks like L&T and Reliance.