Despite anticipating consolidation yesterday, we were confident about keeping the 16040 view in play - Geojit Financial
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Nifty Outlook:
Despite anticipating consolidation yesterday, we were confident about keeping the 16040 view in play. As it turned out, the sudden collapse during the opening trades yesterday, managed to stage only a momentary breach of our downside marker of 15635, before pulling back swiftly and closing above 15800. This, encourages us to aim for a bigger target in the coming days, but we are now focussed on ensuring that Nifty’s break beyond by the parallel trading range that has been on since the start of this month, is clean and complete. Towards this end, our downside marker has been pushed higher to 15785.
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