If the Nifty50 decisively holds 19,500 as well as moved above the falling resistance trendline, then the index can start marching towards the high of October at 19,850
The outlook for the Nifty Index leans towards a neutral scenario. There is an expectation of further rangebound movement in the Nifty, potentially between 18,830 – 19,560 levels.
The outlook for the Nifty index leans towards a bearish scenario. There is an expectation of further downward movement in the Nifty, potentially reaching down to the 18,460 level if it breaches the 18,830 support.
Key support levels for the Nifty50 include a sturdy foundation at 18,830, represented by the 200-day EMA, along with additional support zones at 18,640 and 18,460