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Yesterday, NIFTY opened on a positive note and moved above the 24,100 mark in early trade. The index continued to form higher tops and higher bottoms throughout the session, breached the 24,200 level, and touched an intraday high of 24,283 before closing at 24,250.

NIFTY has successfully achieved our previously mentioned target of 24,240. The index now faces immediate resistance in the 24,300–24,375 zone, with the 200-DEMA placed near 24,375. A decisive breakout and sustained move above 24,375 could trigger a fresh leg of the uptrend and strengthen the overall bullish momentum.

On the downside, the 24,100–24,050 zone is expected to act as an important support area. As long as NIFTY sustains above this range, existing long positions can be maintained with a protective stop-loss below 24,050.