The index staged a strong rebound, reclaiming its 21-DMA with the rising trendline, indicating an improvement in near-term market sentiment. However, sustaining these levels will be crucial to reinforce the ongoing recovery. On the downside, a decisive break below 23,600 could trigger renewed selling pressure, exposing the index to 23,300, and further downside risk toward 23,000. On the upside, the index needs to decisively reclaim and sustain above 24,400 to signal a meaningful revival in bullish momentum. Such a move would also confirm a breakout from the recent consolidation range, strengthening the overall technical structure and increasing the probability of an advance toward 24,500–24,600.
