Though yesterday’s bearish engulfing pattern indicates an end to the ongoing uptrend - Geojit Financial
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NIFTY OUTLOOK
Though yesterday’s bearish engulfing pattern indicates an end to the ongoing uptrend, expect an attempt to swing higher from 17325, aiming 17430, but not much more. Breach of 17325 could lend momentum to downsides, aiming 16900, but favoured view expects this to be a day of consolidation rather than one of directional moves. Alternatively, a close within the 17325-530 band could give the uptrend another shot at resumption tomorrow.
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