NIFTY-Ready for a bounce back after a consolidation phase?

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Nifty 50 Index (NSE:NIFTY)

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NSE:NIFTY Nifty 50 Index

NIFTY-After consolidating for a while showing signs of reversal. 19620-660 will act as the 1st major resistance followed by 19780.Close above likely to renew the upward journey towards 20000.positional tgt is likely to be 20000 with yesterdays close as sl.Call option writers are active at 19600 level ,holding above 19600 would force the call writers to go for a covering.RBI Monetary policy is also there and may add to some volatality

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TGT 1 DONE-19620 ,good part is NIFTY is holding above 19600 ,seems Monday would take a sigh at 19700

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