Stock Market Today, May 21 -- The benchmark Nifty50 index cracked 1.05% on Tuesday after consolidating for a few days amidst mixed global cues. Bank Nifty at 54,877.35 also ended close to 1% lower and most other sectors led by pharma auto and FMCG ended in losses. The small and the mid caps in the broader markets saw a correction of up to 1.4%.

As long as the Nifty-50 index is trading below 24850 the correction wave is likely to continue and market could retest the level of 24550-24500 zone. On the higher side above 24850 the sentiment could change and Nifty has chances of hitting 25000-25100/ levels as per Shrikant Chouhan, Head Equity Research, Kotak Securities.

As long as Bank Nifty remains below 55,290, further weakness is likely, w...