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NIFTY OUTLOOK

The anticipated slippage unfolded yesterday testing 16833, but fizzled out in the opening moments itself. Thus Nifty is poised to head into the upper range of the 17100-170 band that has been on discussion in the last few days. So, this opens up chances of 17600, but we are not convinced of a vertical rise, and feel that yet another downswing is still on the cards. Towards this end, we will limit the upside expectations to 17300, and will look to re mount the bear view if 17170 continues to resist again, or if there is a direct fall back below 17085.

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