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On Friday, NIFTY opened on a negative note but found support near the 24,100 mark and resumed its upward move. The index regained 24,300 and eventually closed above 24,350.

NIFTY has recovered smartly from lower levels and continues to trade above the 50-DEMA, placed near 24,190, keeping the broader trend positive. However, the index faces resistance in the 24,300–24,400 zone. A sustained move above 24,400 could open the path towards the 100-DEMA, positioned near 24,700.

On the downside, the 24,000–23,850 range will act as an important support zone. Long positions can be maintained with a protective stop-loss below 23,850.