Nifty is stuck, but the broader market isn’t; Vinay Rajani explains what’s really happening

India’s Nifty 50 index is trading in a narrow range. However, midcap and smallcap indices are reaching new highs. Foreign institutional investors are not actively participating in large-cap stocks. This is causing the Nifty to underperform global markets. Analysts see a credible breakout in the Nifty. Support is seen at 24,000.