Though Nifty never appeared to collapse, the approach to 17300 yesterday - Geojit Financial
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NIFTY OUTLOOK
Though Nifty never appeared to collapse, the approach to 17300 yesterday, did show visible signs of exhaustion which is in line with our expectations of a turn lower. We will continue to watch 17155-300 region on the sidelines, and wait for a break beyond 17085 for bearish confirmation. A direct rise above 17300 or inability to extend dips much beyond 17085 will however set the trend firmly in path for 17600 and beyond.
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