Indian shares rose as central bank rates remained stable. Nifty and Sensex gained 0.8%. HDFC Bank performed well. Analysts expect a sideways market. US markets closed higher, while European stocks fell due to Fed comments. Nagaraj Shetty says "the near-term trend of Nifty remains positive and the ongoing range movement is suggesting the possibility of sharp swing movement on either side. Hence a range expansion could be watched around 22600 and 22300 levels on either side.