Nifty`s buoyancy above 15760 early yesterday did encourage traders to go long on anticipated lines - Geojit Financial
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Nifty Outlook:
Nifty’s buoyancy above 15760 early yesterday did encourage traders to go long on anticipated lines, pushing prices above 15800 towards close. But this is insufficient to spark a directional move, and we had noted yesterday that even a break beyond 15600-900 may not unleash sustainable moves. Towards this end, Nifty will start the day on a mean reversion mode allowing itself to get sucked into the 15770-740 region, followed by short indecisive swings on either sides of this region. Yet, within this lacklustre construct, we do eye the prospects a 15950, as long as 15700 holds.
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