Break of 17220 could usher in a 100 point upmove at best, and a run a way rally is less expected - Geojit Financial
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NIFTY OUTLOOK
While 17220 as well as 17045 performed on anticipated lines yesterday, both are likely to be in play again today. We had also suggested that the angle of rise from here on could be less obtuse, and yesterday’s decline from the top is in line with the same. This has left Nifty with more steam to rise again, which would be in play as long as 17045 is intact. However, we will go in today with limited expectations of a breach of 17220. There will be initial positivity nevertheless, but it could slow down once inside the 17145-17220 region. Break of 17220 could usher in a 100 point upmove at best, and a run a way rally is less expected.
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