A flag pattern had encouraged us to go into Friday with a positive frame of mind, despite the prospects of profit booking ahead of weekend - Geojit Financial
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NIFTY OUTLOOK
A flag pattern had encouraged us to go into Friday with a positive frame of mind, despite the prospects of profit booking ahead of weekend. Nifty closed not far from 16700 on Friday, shortly after seeing a new peak, with the 4 hr chart suggesting that the flag pattern has matured and the impulse move has resumed. No hurdles are anticipated now before testing 17000 and dips may be bought as long as pull back, if any, do not stretch much beyond 16760.
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