The market closed today at 23,996 — a razor-thin close, right at the doorstep of the 24,000 mark. Bears have taken Day 1 of this five-day expiry week, and this is monthly expiry week too, which means the days ahead can move sharper and gap more than usual.

For bulls to have any real chance, the market needs to reclaim 24,244 and hold above it. Bears are firmly in control for now — but expiry weeks are known for sudden gaps and momentum shifts, so caution matters more this week than most.

Here's what bears will be testing over the next two sessions — tomorrow (Thursday) and Friday: their own magic number, 23,666. It's the mirror image of what bulls attempted just days ago — bulls tried breaking above 24,244 but couldn't close above it. Now bears want to do the same on the downside, testing 23,666 without necessarily closing below it either.

As always — the closing price is our basis, whatever the intraday noise says otherwise.

One thing already looks clear from here: August is shaping up to be a genuinely volatile month. Worth staying alert, not reactive.

This is educational content only. Nothing here is a buy/sell call or a recommendation — no derivatives, no positions suggested. For any personal investment decision, please consult a SEBI-registered adviser.