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Nifty Outlook:

Early last week, when Nifty was about to turn lower from 14966, we had noted that upside chances will remain as long as 14600 holds. On Friday, Nifty tested 14591 and sprung back, and is poised to test 14740 today, but we remain unconvinced about the prospects of an outright run higher. Favoured view expects 14740-820 region to challenge the upsides today, with 14400 as a potential downside objective for the week. Alternatively, a push above 14900 again would dispel all bearish fears calling for a new record peak and beyond.

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