Nifty struggled to maintain levels above 19,500, facing selling pressure that caused the index to retreat towards 19,400. Towards the upper limit, it encountered resistance near an important Fibonacci Retracement level of the previous decline from 19,850 to 18,837, indicating a potential for bearish movement in the short term. Support at the lower end is positioned at 19,300, while resistance is observed at 19,550.