A pull back is in order, aiming 17833 initially but Nifty does not look primed for a vertical rise - Geojit Financial
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NIFTY OUTLOOK
A pull back is in order, aiming 17833 initially but Nifty does not look primed for a vertical rise. While a push towards 17966- 18020, may be expected, the 18170-400 region appears could again prompt a distribution and aim for 17350, our downside objective that has been in play for a fortnight now. Meanwhile, a direct fall below 17600 today may not lead to a collapse, but in turn, lead to a consolidation in the 17500-350 band in the next few days, which could improve the chances of a sustainable uptrend.
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