Nifty seen trading sideways between 23400 and 24500 as analysts watch a breakout signal

Support is expected to hold, but direction may wait

Technical analysts say the Nifty is likely entering a consolidation phase, not a full reversal. They expect the index to trade within a broad band of 23,400 to 24,500, with key support zones tested but anticipated to hold. A decisive breakout is seen as necessary to restore directional momentum, while the broader structure remains constructive for a gradual upward move.