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NIFTY OUTLOOK

We had opened yesterday with a clarity on 17700-780 as the near term objective, but had also ear marked 17430- 489 to challenge the surge. This was indeed the range that Nifty got entangled with, in the final session and a similar challenge could be posed by the 17600s today. However, favoured view expects the same to be broken without much effort. This upmove’s momentum would be tested if the 17600s act stubborn and force a swing back to 17430, but our downside marker would be placed a bit further away at 17250, until 17780 is achieved.

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