Market Volatility Persists as IT Rises, Metals Fall

The Nifty experienced high intraday volatility as it recovered from lows, finding support at the crucial 40-day moving average. However, it faces resistance at the 19,450-19,500 point zone, suggesting a period of consolidation. The Bank Nifty has formed a doji pattern, indicating possible consolidation and finding support at the 20-week moving average. Overall, the short-term outlook remains negative for both indices. Traders and investors should closely monitor key levels and trends for informed decisions.