The index witnessed modest profit-booking after a decisive breakout above its downward-sloping trendline, indicating an improvement in the near-term technical structure. Following the breakout, the index rallied toward its 200-DMA at 24,774, a key long-term trend indicator that is likely to remain in focus. The broader price structure continues to favour the bulls, with the breakout suggesting a gradual shift in market sentiment. If the index sustains above 24,400, the positive momentum is expected to remain intact, opening the possibility of an extension toward 25,000–25,200 over the coming sessions. On the downside, 24,500–24,400 is expected to provide a strong cushion, and any corrective decline towards this zone is likely to attract fresh buying interest, thereby preserving the prevailing bullish bias.
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