Currently, the market is firmly under the control of bullish sentiment, with investors capitalizing on even minor downturns to establish long positions. Tejas Shah from JM Financial & BlinkX highlighted that support for the Nifty index is now anticipated around the 23,200 mark, with additional support levels ranging between 22,950 and 23,000. On the upside, immediate resistance is expected around 23,350, followed by a higher resistance level at the 23,500 mark.

Regarding market volatility, India VIX, a measure of market fear, declined by 14.77% to settle at 20.94 levels.