The Nifty 50 rebounded strongly after three weeks of losses and recorded a healthy bullish candlestick pattern on the weekly charts. The Bank Nifty is likely to march toward 48,800-49,000 as long as it holds above 48,000 on a closing basis. However, 47,800 is expected to be the key support zone, according to experts. Instead of chasing momentum, look to buy on declines. The immediate support zone is between 22,350–22,250, and 22,000 remains a strong and important support level. A decisive close above this resistance could propel the index toward the upper band of the falling channel from its all-time high, around 23,300. If the index holds 22,500 in the upcoming sessions, the 22,750-22,800 zone will be thekey resistance area to watch. About 1,693 shares gained compared to 957 declining shares on the NSE on Friday, March 7, despite positive market breadth.