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Nifty Outlook:

The 15660 region managed to keep upside attempts checked for most part of yesterday and the final surge that saw 15700 turned out to be too brief. This turn of events forces us to ignore the “cup and handle” pattern seen in small periodicities, in favour of a parallel consolidation pattern in the 15625-700 band early in the day. Favoured view continues to see Nifty hitting 15740/50 without any hiccups. Meanwhile, the near term objective of 15960- 16040 is still in play, with the downside marker placed at 15460. That the marker cannot be placed any higher, points to a volatility risk.

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