The hanging man formed yesterday signals a bearish reversal, but prior days having registered flat closes - Geojit Financial
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Nifty Outlook:
The hanging man formed yesterday signals a bearish reversal, but prior days having registered flat closes, we remain positive on seeing 16350 soon. However, as maintained yesterday, 15900/920/970 regions will continue to be points of caution. Failure to breach the same could initiate a three step consolidation process aiming 15669, where in positivity will linger on while inside the 15840-810 region, a neutral bias while inside 15810-15767, and volatility while inside 15767-669. Our breakout points for the day, hence, are 15970 and 15669.
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