The Bank Nifty Index has been consolidating in a narrow range of 700 points between 49,500 to 50,200 zones for the last four trading sessions. It formed a small-bodied candle on the daily and weekly scales.
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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.