Shortly after achieving the 16350 objective that we have been aiming for in the last few days - Geojit Financial
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NIFTY OUTLOOK
Shortly after achieving the 16350 objective that we have been aiming for in the last few days, an evening star candlestick pattern matured, in hourly charts, suggesting that Nifty has embarked on a mean reversion move. Having formed so early in the uptrend, favoured view expects the correction to be brief. In the event of such dips not extending beyond 16238 or 16174, the return to uptrend could be swift, with 16600 as the next objective. Else, we may have to wait till atleast 16030.
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