The first was dominated by all round positivity, when it appeared that a test of 18050 was a foregone conclusion - Geojit Financial
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NIFTY OUTLOOK
Yesterday could be viewed to have evolved in two phases. The first was dominated by all round positivity, when it appeared that a test of 18050 was a foregone conclusion. Once the objective was more or less achieved, the second phase unfolded, which was dominated by doubts as to whether the lofty peaks can be sustained. Since this phase got timed out yesterday, expect it to unfold today in the initial hours. Favoured view continues to see 18500-650 as achievable objectives before the major trend loses its upside momentum. Early declines to 17850- 805 should find buying interest, but a slippage past the same could suggest that the near term trend may have shifted into a consolidation phase that may have to see atleast 17600 before renewed buying emerges.
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