Yesterday NIFTY opened on a negative note and fell below the 19800 mark in the early trade. Finally it ended just below the 19750 mark. NIFTY has broken the 20DEMA and closed below it. It has corrected 50% of its recent rally from 19223 to 20222, thus now NIFTY starts trading below 19700 then we may see more selling pressure and in that case NIFTY can test 19605, which is 61.80% retracement level. On the upside now the range of 19900 - 19950 will play as an important resistance thus fresh long should be taken only on a breakout above 19950.