Nifty had dropped enough bearish hint on Monday, and it was hence not surprising to see 15900 - Geojit Financial
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Nifty Outlook:
Nifty had dropped enough bearish hint on Monday, and it was hence not surprising to see 15900 presenting yet another stiff challenge, forcing Nifty lower. However, we are inclined to believe that dips to 740 vicinity could allow bulls to regroup and atleast slow down the slide, if not attempt an upswing again. Towards this end, we will wait for a slippage past 15740 for playing the 15600 move. Meanwhile, upside breakout chances remain conditional on 15900 giving away. Being in a declining VIX environment, expectation of break out moves on either side remains subdued.
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