The NSE Nifty 50 has entered the overbought zone after a sharp 1,500-point rally over the past four weeks, the stochastic oscillator on both daily and weekly charts, according to Bajaj Broking Research on Thursday.

It expects the index to consolidate in the range of 25,600-26,100. "On the downside, the zone of 25,500–25,700 is expected to act as a strong demand area, coinciding with the 38.2% Fibonacci retracement of the ongoing rally (24,587–25,782) and the recent breakout region — thus providing a solid technical support base," it added.

Immediate resistance is seen at 25,950, with higher levels at 26,000 and 26,100, according to Amruta Shinde, technical and derivative analyst at Choice Broking. "The index is showing a sideways to bullish bias, holding above key supports at 25,700 and

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