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Nifty is currently trading at a rich valuation of 18.2XFY25E, which leaves little room for any valuation expansion, hence any upside, if at all, must come led by earning surprises, says Unmesh Sharma of HDFC Securities.

Questor investment trust bargains: current discounts in some sectors are even steeper than the average across listed funds

The outlook for the consumption space is weak, but some bounce could be seen ahead of the elections if the government announces policies to revive consumption, says Jitendra Gohil of Kotak Alternate Asset Managers.

Sobha formed robust bullish candlestick pattern on monthly charts, with making higher highs, higher lows formation for third consecutive month. The stock traded well above all key moving averages.

The stronger bullish momentum on the Nifty50 can be only witnessed above 19,750-19,850-zone.

Nifty in month of November can move between broad range of 19,700 – 19,100 levels, says Ashish Kyal.

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

Viraj Vyas advises creating a non-directional spread in Nifty50 by selling 1 lot of 19,100PE and 1 lot of 19,500CE.

The strength in bulls can be confirmed in case the Nifty goes above 19,450/19,460 levels, similarly for Bank Nifty the same can be seen above 44,000/44,100 zone.

Rohit Srivastava of Indiacharts feels if the Nifty picks up in the next few weeks, the momentum will go back to sectors like PSUs and Autos