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NIFTY OUTLOOK

Decline in intraday volatility over the last few days, has meant that a meaty portion of the ongoing upmove has happened overnight, rather than through the day. While this has left the intraday trader with very little manoeuvring to do during the day, it has kept the positional trader sitting pretty, with our measured objective of 18650 looking achievable this week. Intraday, there is a fair chance of a decline in momentum after seeing 18450, but dips to 18370 is expected to attract bargain buying. Downside risk level will be pushed higher to 18277.

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