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Recommend selective buying in mid and small-cap stocks. Do not get upset seeing 18,400 or 18,100; the uptrend is strong. In a rising market, more corrective and fast declines are witnessed
If the Nifty50 decisively holds 19,500 as well as moved above the falling resistance trendline, then the index can start marching towards the high of October at 19,850
On the weekly options front, 19,500 strike maintained the maximum Call open interest, followed by 19,600 strike, with Call writing at similar strikes, which indicating that 19,500-19,600 seems to critical resistance area for further upmove in the Nifty.
Options data indicated that 19,500 is expected to be crucial for march towards 19,600-19,800 levels, with support at 19,400 & 19,300 levels.
For buying interest to resume, the index has to close above 19,500, while support is at 19,300, experts say