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On Friday, NIFTY opened almost flat and traded in a narrow range of 24,200–24,275 throughout the session. The index remained largely range-bound and eventually closed just above the 24,250 mark.

NIFTY continues to face resistance at higher levels, with a strong resistance zone in the 24,300–24,400 range, where the 10-DEMA, 20-DEMA, and 200-DEMA are positioned. Fresh long positions should therefore be considered only on a decisive breakout above 24,400.

On the downside, the 24,000 mark will act as an important short-term support level. Long positions can be maintained with a protective stop-loss below 24,000.