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The chart formations indicated the exhaustion of bullish strength, which might attract a price-wise correction post-rally, experts believe.

The Nifty 50 is likely to consolidate around the 23,000 mark in the coming sessions and may once again attempt to hit the upper band of the rising channel (placed around 23,100-23,200).

Going forward, 23,000 is expected to play a crucial role in the indexs journey towards the upper band of the Rising Channel, placed at 23,100-23,200, whereas on the lower side, 22,800 is likely to act as support, experts said.

Experts feel that if the Nifty 50 manages to close decisively above the much-awaited 23,000 level, then 23,500 is the level to watch out for as the market approaches the general elections results due next month.

Experts feel that if the index closes and holds above 22,600 in the coming sessions, then the indexs journey towards 22,800 cant be ruled out.

Experts expect the index to consolidate in the range of 22,400-22,600, and breaking this range on either side to give further direction.

Experts see the Nifty 50 moving towards 22,600 in the immediate term and then 22,800 in the coming weeks, with key support at 22,300-22,200 levels.

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