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Yesterday, NIFTY opened on a negative note and slipped below the 25,300 mark in early trade. However, it found support near 25,200 and bounced back sharply. The index regained 25,300, breached the 25,400 level, tested 25,450, and finally closed above 25,400.

NIFTY is comfortably trading above the 200-DEMA, placed near 25,160, and has also reclaimed the 10-DEMA, positioned around 25,390. This strength suggests further upside potential, and the index may now move towards the 20-DEMA, which is placed near 25,565.

On the downside, the 25,100–25,000 zone will act as an important support area. Long positions can be maintained with a stop-loss below 25,000.