New Delhi, April 3 -- Indian markets appear to have made a temporary bottom near the 22,000 level, with the zone eliciting strong buying interest from domestic investors and goading options sellers into writing puts at that strike.

Analysts expect a bounce toward the 23,000-23,200 band following Thursday's sharp intraday recovery. They caution, however, that any escalation over the weekend could upset their forecasts.

"Thursday's smart recovery and close above the previous session low sets a bounce in motion toward the first resistance level of 23000 -23200, so long as the war doesn't escalate in the intervening period ," said Sahaj Agrawal , senior vice president research at Kotak Securities .

Friday is a market holiday for Good Frida...