The anticipated directional upmove failed to evolve on Friday, and we are in for a consolidation - Geojit Financial
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Nifty Outlook:
The anticipated directional upmove failed to evolve on Friday, and we are in for a consolidation. The prospects of seeing a new peak today without much trouble, will be diminished if Nifty fails to pull back above 15770 early in the day. This event could force Nifty to slip towards 15700 quickly, followed by a consolidation in the 15680 vicinity, and attempt to swing higher There is little to suggest that our near term target of 15950- 16040 is under threat, but we will be forced to abandon the bullish prospects, should 15635 give away.
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