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
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.
One should not worry during corrections as long as the overall pattern or structure is still higher highs and higher lows on the weekly time frame, says Ashish Kyal.
Ipca Labs has been trading under pressure since last two years and a few weeks ago the stock marked its 52-week low of Rs 669.80 as well in the month of May 2023.
The next targets for the Nifty50 to watch out for would be 20,500-21,000 in the short term, considering the strong momentum sustained through the last seven sessions with participation from bank and IT stocks