The index closed below both its 21-DMA and the psychologically important 24,000 mark, indicating a weakening of near-term momentum. Going forward, 23,800 will remain a critical demand area and will be closely monitored for signs of buying interest. If the index sustains above this level, the broader short-term trend is expected to remain constructive despite the ongoing corrective phase. However, a decisive breach below 23,800 could dampen market sentiment, trigger fresh selling pressure, and increase the likelihood of an extended decline toward 23,600–23,500.
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