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On Friday, NIFTY opened almost flat but witnessed weakness in early trade and slipped below the 24,350 mark. The index took support near 24,300 and witnessed some recovery in the afternoon session, eventually closing just below 24,350.

Once again, NIFTY witnessed buying interest near the 20-DEMA, indicating continued buying interest at lower levels. However, the index closed below the 200-DEMA, suggesting that the broader trend is yet to regain full strength. Nevertheless, the near-term outlook remains positive and long positions can be maintained. If NIFTY sustains above 24,500, it could once again test the 24,750 level.

On the downside, the 24,350–24,250 zone will act as an important support area. Long positions can be maintained with a protective stop-loss below 24,250.