After four consecutive days of positive close, Nifty has stepped into the overbought territory - Geojit Financial
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NIFTY OUTLOOK
After four consecutive days of positive close, Nifty has stepped into the overbought territory. But, neither this, nor oscillator divergences seem potent enough to suggest a collapse yet. Towards this end, the day’s dips would initially aim to penetrate 17800, but 17725-680 region is favoured to prompt a swing higher, again, putting the 18100s back in the radar. We will wait for a close below 17530 to fully abandon upside hopes.
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