Nifty’s sharp rebound after defending the 22,200–22,000 support zone could extend towards 23,600, according to Anand James, Chief Market Strategist at Geojit Investments. However, the index must first post a sustained close above 22,800 to confirm that Friday’s recovery marks more than a relief rally, he said. James also sees early signs of leadership emerging in IT stocks, while Bank Nifty could help stabilise the broader market.