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Questor share tip: This company is looking cheap if it can deliver on its aim of a return to pre-pandemic profitability

After hitting three-and-half-month low, Finolex Cables rebounded smartly in last two sessions and climbed back above 200-day EMA, which is a positive sign. The stock formed long bullish candlestick pattern on the daily charts, with above average volumes.

Crucial support for the Nifty50 is expected to remain at 18,800, the low of the last week, as beyond this point, it may slide down to 18,600-18,500. On the higher side, the immediate hurdle will be at 19,200-19,300, followed by 19,500

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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

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In case, the Nifty50 gets broken down the support 19,480, the low of previous week, 19,300 (the low of October month) is likely get tested in coming sessions, experts said.

NBCC traded above all key moving averages since the second half of July, and formed long bullish candlestick pattern with upper and lower shadows on the daily charts, with robust volumes.

Key support levels for the Nifty50 are anchored by a solid base at 19,480, marked by multiple touch points, followed by additional support zones at 19,200 and 19,000.