The NSE Nifty 50 finds immediate support near 23,600, with key resistance positioned at the 23,840-24,070 levels.
Analysts highlight further resistance in the 24,320 zone while maintaining a cautious outlook given current market conditions.
A strong move above the 23,850-24,000 range could signal a trend reversal.
Indian markets are expected to remain range-bound due to a lack of triggers amidst Christmas holidays, relentless FII selling, and a weak Indian rupee.