Experts feel overall the index has been rangebound and the surpassing 17,200-17,300 mark in coming days can be concluded as a completion of recent corrective phase.

Hikal rallied 6 percent to Rs 361, the highest closing level since May 27 and formed bullish candle on the daily charts with above average volumes. It has seen a breakout of long down ward sloping resistance trend line adjoining April 8 and September 9.

Experts expect the index to march towards the 23,800-24,000 levels if it manages to hold the 23,500-23,400 area.