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Nifty Outlook:

Though Nifty remained true to our bullish expectations yesterday, the moves fell just short of achieving our day’s target of 15870. This is hardly the surge we had expected when we lined up 16350 for the week. Towards this end, we will take the bearish hint, and play the 15780 move first early in the day, and will be circumspect about upmoves today. The chances of upside break thus becomes conditional on 15900 giving away, while inability to find buying interest in the 15780-740 region would signal a 15600 move again.

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