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The prevailing sentiment remains optimistic in the Nifty50, contingent on Put writers safeguarding the 19,900 levels.

The next hurdle for the Nifty is the 20,164 levels. If the index can break this levels, it could move up to 20,300 and 20,500 levels.

It is the time to increase the exposure in largecaps and reduce in midcaps. Risk reward does not seem favourable in mid and smallcaps.

Ashish Kyal expects consolidation or minor retracement in midcap, smallcap indices, but it will be an opportunity to enter into the stocks that have shown leadership role during the rise.

Considering the strong momentum, the index is likely to march towards 20,000 milestone in coming days, provided its holds 19,700-19,800 area, while the crucial support remains at 19,600-19,500 levels, experts said

The ongoing rally in the financial system seems to be running smoothly without any major hiccups, and valuations appear reasonable, says Mayank Mehraa of Craving Alpha.

Asahi India rebounded sharply and recouped all previous four-day losses in one session, rising 8 percent to Rs 595. The stock has formed strong bullish candlestick pattern on the daily charts, with robust volumes and trading above all key moving averages.

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Short-term volatility may persist due to election results, but ultimately, Ambit Asset expects the markets to move beyond that and remain fundamentally driven says Manish Jain.

In order to break the pattern of lower highs, the Nifty50 must decisively breach 19,600 mark.