Market Radar: The rejection trades from the 60EMA yesterday mayhave stabilised the run - Geojit Financial Services
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Nifty Outlook
Conventional wisdom suggests renewed selling after yesterday’srelief rally, which almost met our first objective of 18100.However, the rejection trades from the 60EMA yesterday mayhave stabilised the run, suggesting that we may not have to worrytoo much about a potential profit booking. Towards this end,favoured view expects continuation of uptrend aiming 18200.Alternatively, pull back beyond 17940, could be taken as a bearsign, but we are not inclined to play the 17670 or deeper, unlessbelow 17800.
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