3. Strong Support Zone: 23,700–23,850
The 23,700–23,850 zone has previously acted as a strong demand area, from where the last rally gained momentum.
Revisiting this level again suggests buyers may step in, making it a key support zone for the market.
2. Long-Term Trendline Support (June 2020)
The major uptrend line drawn from June 2020 lows has remained unbroken so far.
Currently, the market is exactly near the tip of this trendline, which indicates strong structural support and increases the chances of a bounce from here.