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Yesterday, NIFTY opened on a positive note but failed to sustain at higher levels. It began forming lower tops and lower bottoms (LTLB) on the intraday chart and slipped below the 25,200 mark, eventually closing just above 25,100.

On the downside, strong support remains in the 25,000 – 24,900 zone. Traders holding long positions may continue to hold with a strict stop-loss below 24,900, as a decisive break below this level could trigger further downside pressure.

The index faces immediate resistance in the 25,200 – 25,300 range, where the 10-day and 20-day exponential moving averages (DEMA) are currently placed. A sustained breakout above 25,300 may pave the way for further upside, with a potential move towards 25,550 in the near term.