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The consolidation is expected to continue in the coming days, with resistance on the higher side at 23,000 on the Nifty 50, followed by 23,100, and support at 22,800 and then 22,600 levels, experts said.
Experts believe that if the index closes and sustains above 23,000, the next hurdle would be the upper band of the Rising Channel (23,100-23,200), and surpassing this could open doors to 23,500, with support at 22,800.
The Nifty 50 is likely to consolidate and remain rangebound until it decisively surpasses the 22,600 level, with support at the 22,500-22,400 zone. However, above 22,600, the bulls may gradually take the index towards 22,800 in the coming sessions, according to analysts.