Chart check: Will Nifty top 25,000-mark before 2024 general elections?

With today's sharp up move, the overall mood has become upbeat and momentum is likely to drive Nifty to newer heights. However, how steep can the rally be? Here's what the chart suggests.

The NSE Nifty has witnessed a strong breakout on the daily and weekly scale following the huge gap-up start of 335 points post a clear verdict in 3 out of 4 state elections in favour of the Bharatiya Janta Party (BJP).

The state elections outcome is seen as a precursor to the general elections next year, in which Narendra Modi-led BJP is eyeing a third-term at the Centre. Analyst says that that market likes political stability.

"The state elections results have turned out to be a big event which can trigger renewed optimism and further rally in the market. Market