The Nifty50 index registered a fresh record high of 23,441.95 in the volatile session on June 12 ahead of key domestic data points and US Fed meet outcome later today.

After a strong start, the index extended the gain and touched fresh high in the initial hours but remained rangebound. However, the last hour selling erased most of the intraday gains, to close near day's low point.

The Nifty index ended 58.20 points or 0.25 percent higher at 23,323, from the previous close.

On the sectoral front, FMCG index shed 0.5 percent, while media, healthcare, PSU Bank, metal and energy added 0.5-1 percent.

Nifty Midcap 100 index touched fresh high of 54,308.80, intraday, and ended 1 percent higher at 54,226.10.

"On the daily charts, we can observe that the Nifty has been broadly trading in the range of 23450 23200 since the last three trading sessions. The hourly momentum indicator has a negative crossover and thus the rallies are fizzling out at higher levels," said Jatin Gedia Technical Research Analyst at Sharekhan by BNP Paribas.

"The ideal strategy would be to buy on a dip around 23150 23100 where support in the form of the 40 hour moving average is placed. On the upside, 23400 23450 remains the target zone. The broader market witnessed outperformance continues for the second consecutive day with the Mid and Small Cap Index was up by 1.04% and 1.23% respectively," he added.

Bank Nifty tried to breakout above 50300 however fizzled out though managed to close in the green up ~190 points. Ideally, dips towards 49600 - 49500 should be used as a buying interest for target of 50500 50600.

After a positive start, Nifty Bank index crossed 50,000, intraday, and closed 0.38 percent higher at 49,895.10.

"The index needs to decisively surpass the 50000 mark to gain further momentum towards the 50500/51000 levels. The lower-end support is placed at 49400, and a break below this level will accelerate further selling pressure towards the 49000 mark," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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