The two-day decline has been deep enough to seriously damage the upside potential of the descending broadening wedge - Geojit Financial
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Nifty Outlook:
The two-day decline has been deep enough to seriously damage the upside potential of the descending broadening wedge, which has been instrumental in guiding our way since the swing back from 15450. Yesterday’s bearish engulfing candle confirms the downside bias that could potentially see a retest of 15450. Nevertheless, we see 15685 pivotal to revival hopes, and a push beyond 15745 will be taken as the first signal towards bringing 16136-16350 view back into play. That is lot of ifs today.
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