Nifty in Lower Top-Bottom Trend Since September
The Nifty has been in a lower top, lower bottom trend since September 2023, indicating a bearish phase. A decisive move below 19,550 could trigger further decline towards 19,300, while on the upside, resistance is seen around 19,700. Crossing above 19,700 might lead to a short covering rally towards 19,850. Overall, the market sentiment suggests caution for bullish traders until the Nifty breaks and sustains above the crucial resistance levels.