The Indian market has been bullish since last March, with NIFTY gaining 26%, BANKNIFTY rising by 26%, MIDCAP surging 50%, and SMALLCAP increasing by 40%. However, the market is highly volatile ahead of the elections, and current conditions often fail to sustain after the breakout.Midcap and smallcap stocks are currently at their peak, making it inadvisable to buy them even if there is an opportunity to outperform the market.The next crucial support levels for Nifty are 19800-19600. If the market reaches within this range, considering it as a potential opportunity, we can initiate long positions from here.Nifty has been in a consolidation phase for the past month, trading within the range of 22124-21137. I believe the market isn't robust at the moment, especially with the upcoming election, which is expected to bring increased volatility. Nifty is anticipated to face resistance at levels around 22780-23168.
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