Nifty`s swing from the lows paused exactly at the 16620 mark yesterday - Geojit Financial
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NIFTY OUTLOOK
Nifty’s swing from the lows paused exactly at the 16620 mark yesterday. But with this move, the negative divergences that we had bet on, to pick yesterday’s drop, look less troublesome now. The ongoing up move could aim for 16780/820 or 17000-17130 before those divergences become potent again for mightier fall. Alternatively, a pull back below 16550 could signal weakness. But as maintained yesterday, a collapse is less likely, for which loftier peaks need to be seen, perhaps.
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