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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.

Sun TV Network traded at multi-year highs now. The stock has formed long bullish candlestick pattern on the daily charts, with strong volumes, while on weekly scale, it has given horizontal resistance trendline breakout this week with above average volumes.

Imminent risks for the equity market could arise from the movement of oil prices, because of our import dependency and its consequent impact on inflation, says Raghvendra Nath of Ladderup Wealth.

For a further up-move, the index needs to close above a bearish gap created on September 21 in the 19,850-19,900 zone for a move towards the 20,000 mark, whereas on the lower side, the immediate support will be at 19,600, followed by 19,500, experts said

Tata Motors has seen a decisive breakout of downward sloping resistance trendline adjoining highs of July 26 and September 20, and has formed robust bullish candlestick pattern on the daily charts with healthy volumes.

NCC has seen a breakout of horizontal resistance trendline adjoining multiple touch points and formed long bullish candlestick pattern with strong volumes on the daily scale. With Thursdays rally, stock traded well above all key moving averages.

Positional Traders are advised to remain cautious till Nifty closes above 19,800 levels.

From a technical point of view, the 19,720-19,750 zone withholds the sturdy resistance, followed by the next cluster around 19,800-19,850 for the current week.