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Index Hovers Near 5 DEMA Amid Early Signs of Weakness. The index continues to hover around its 5-day exponential moving average (DEMA) zone near 24,350, having even closed marginally below it. This marks the first sign of weakness in the last 10 sessions. The RSI has registered a negative crossover, indicating potential short-term weakness within the ongoing range of 24,450 to 24,000. Over the past two weeks, the price action has remained largely consolidative, suggesting the importance of maintaining a light trading approach. A decisive breakout above the 24,350 option cluster could act as a trigger for the next momentum leg, with a medium-term target of 25,180 for the month. Conversely, a breach below 24,000 would be critical and may indicate deeper downside risk. Importantly, the trading base has shifted higher from 23,400 to 24,000, now establishing a revised support zone and ideal stop-loss area for ongoing long trades. However, a breach below 23,960 would signal shortterm exhaustion, warranting a more cautious stance. Bullish flag projections remain intact as long as 23,960 holds, eyeing an upside toward 25,180, and potentially 25,400. Momentum traders should continue to hold long positions with trailing stop-losses at 23,960 to protect gains while staying aligned with the overall bullish structure.

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