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Nifty Outlook:

We had indicated yesterday that the 14970-15050 region could challenge the ongoing upsides that was otherwise aiming for a new record peak. The reversal yesterday from 15044 did find bargain buying on anticipated lines, but early indications are that we would be moving into a sideways range, unless Nifty manages atleast a close inside 14800-900 today. The 14730-704 region in the opening hour, as well as 14600 later in the day, will offer platforms for the bargain hunters. But if 14820 caps the relief rallies, look for 14500 or 14390.

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