Nifty witnessed another lackluster day; in fact, the index remained very range-bound, staying broadly within 23450 and 23650. Sentiment continues to favor short-term bullish trades as the index sustained above the 55 exponential moving average (EMA) on the hourly chart. The short-term trend remains strong, and any dips towards the 55-hour EMA, which is currently pegged at 23340, might get bought into. On the higher end, in the short term, the index might move towards 23800 and beyond.