The 18385-485 objective that we had set for the relief rally is yet to fully mature - Geojit Financial
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NIFTY OUTLOOK
The 18385-485 objective that we had set for the relief rally is yet to fully mature, and upside spurts have all fizzled off before gaining momentum in the last couple of days. However, the same can be said of the downsides as well, suggesting that there has been enough buying interest to stage the 18385-485 move in the next few days. That said, our 17350 view for near term will continue to be in play, as long as the ongoing recovery attempts do not breach the 18602-650 band. We will keep 18160 as the downside marker in the meanwhile, and attaches only a low probability to the prospects of a collapse today.
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