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For Nifty50, 19,330 is an immediate support level, while 19,220 is a key support level. The overall texture is still buy on dip.

Bharat Forge has formed long bullish candlestick pattern with minor upper & lower shadows on the daily scale with robust volumes. The stock climbed above 21 as well as 50-day EMA on Monday.

Godrej Properties saw breakout of slightly downward sloping resistance trendline adjoining highs of July 28 and October 11, and formed long bullish candlestick pattern on the daily scale with robust volumes.

Within the defensive sectors like IT, FMCG, and pharma, the belief is that the pharmaceutical sector (pharma) might take the lead, followed by FMCG and IT, says Anirudh Garg of Invasset PMS.

If the said level get decisively broken on the higher side, then 19,500-19,600 cant be ruled out, whereas on the lower side, 19,000-18,900 is likely to be a key support zone, experts said

Godfrey Phillips India continued uptrend for fifth consecutive session. Also, it has seen V-shape recovery, with trading above all key moving averages (20, 50, 100 and 200-day EMA), which is a positive sign.

Analysts and fund managers say the small- and mid-cap segments are overvalued and it is time to look at large-caps, which are looking more attractive both in terms of valuations as well as fundamentals. ET Prime figured out the fastest-growing large-caps and came out with a list of 15 companies that have the potential to do well.

Looking at the positional technical setup, it would be advisable to lighten long commitments in the resistance zone of 19,230-19,333.

Global undefined Stock News

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