Favoured view continues to expect a push into the 17450-505 region or more as our downside marker of 17286 was left undisturbed - Geojit Financial
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NIFTY OUTLOOK
Though yesterday witnessed a bit of loss in upside momentum, favoured view continues to expect a push into the 17450-505 region or more as our downside marker of 17286 was left undisturbed. For today, we would however, not wait for a level so deep to switch sides, but will instead look for inability to push beyond 17450 early in the day, or a slippage past 17350 as an early signal towards bears getting a stronger hold. We also believe that though negative divergences are still present, candlestick patterns do not suggest a collapse.
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