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As long as there's no breakout, the index is expected to continue moving sideways. A decline below 19700 could potentially trigger a market correction. Conversely, a clear move above 19900 might prompt a significant rally, potentially driving the index towards a new all-time high.
The NSE Nifty 50 index settled 0.46% higher at 19,765, while the S&P BSE Sensex rose 0.47% to 65,982, notching their highest closes since October 17.
Pinterest jumped 14.8% as the image-sharing platform beat third-quarter revenue and profit estimates on a stabilizing digital advertising market
A consortium of nine companies plans to conduct experiments and exercises over the next 12 months to demonstrate how new technologies can massively increase the power of forces at platoon level.
"On the weekly charts, we can observe that the Nifty has respected the support zone of 18800 – 18925 where multiple support parameters in the form of the 40 week average and a crucial Fibonacci retracement level was placed. Thus, going ahead the Nifty can consolidate within 18800 – 19200 before resuming the next leg of the fall.