The bullish pattern that we had placed our hopes on, at the start of the week - Geojit Financial
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NIFTY OUTLOOK
The bullish pattern that we had placed our hopes on, at the start of the week, has fully matured, and has also been followed by a series of continuation patterns, suggesting that the chances of the 18500 objective continues to appear bright. However, we feel that a mean reversion play could mature in the coming days, requiring bulls to defend 17750-660 region to keep the upside trajectory intact. We will look for dips to enter longs again, and would not be keen on chasing rallies higher today, with 17840 and 17943 identified as levels of interest.
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