The week pointing towards bullish exhaustion, dips continue to be bought, easing some of the negative divergences - Geojit Financial
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Nifty Outlook:
Though we had opened the week pointing towards bullish exhaustion, dips continue to be bought, easing some of the negative divergences. Hence the sub 15500 view would be conditional on 15625 giving away. That does not bring the 15950-16040 trajectory into play right away though, and the structure looks vulnerable towards indecisive swings on either side of 15770. Yet, within this indecisive construct, our initial play would be to be look for 15815-830, while above 15730.
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Trend reversal in FPI investment from buying in last 3 months to selling in Sep
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The start of this week we had revised the near term target upwards to 14650 - Geojit Financial
