Technical View: Nifty needs to break 23,000 decisively for sharp upward move, Bank Nifty consistently defends 49,000

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The India VIX, which measures the expected market volatility, snapped its six-day winning streak and fell 0.37 percent to 15.67.

However, it still traded above all key moving averages and in higher zones. Hence, the bulls need to remain cautious..