Nifty may bounce back from 19,500 level but won’t sustain above 19,900-20,000: Aamar Singh Deo
Nifty is facing a crucial support zone at 19,500-19,600. While there may be a bounce back, it is likely to be limited and not sustain above the 19,900, 20,000 level due to selling pressure. The Bank Nifty is also seeing similar patterns of selling pressure and is technically weaker than the Nifty. Additionally, the FMCG and IT sectors are facing consolidation and lack of upside momentum.
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