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Nifty Outlook:

Despite the weak finish yesterday, the recovery attempts in the closing hour has forced us to suspend the 13800 possibilities for now, and consider the chances of a reversal today. The 2 month old parallel trading range may be considered to be still in play setting up a near term upside target of 15300 if 14360 remains intact on closing basis. For today, base case scenario sees upmoves aiming 14590/630 as long as 14460 holds, while the best case scenario sees vertical rise to 14900. Downside risk levels are placed at 14460 on an intraday basis, and 14360 on closing basis.

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