The initial drop as well as the turn higher from 17252 region evolved on anticipated lines - Geojit Financial
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NIFTY OUTLOOK
The initial drop as well as the turn higher from 17252 region evolved on anticipated lines. However the candlestick formation thereof in hourly charts as well as 15m charts suggest that while bearish momentum have been neutralised, the trend remains vulnerable for further falls. Therefore, we would go in today, with the expectation of a drop to 17145 as long as 17374 keeps a lid on upside attempts. Alternatively a direct rise above 17374 or a inability to keep Nifty submerged below 17330/14 would suggest that bears grip is weakening.
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