Yesterday’s hammering lends momentum to our 16900 view - Geojit Financial
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NIFTY OUTLOOK
Yesterday’s hammering lends momentum to our 16900 view. But the bears got timed out yesterday, and the pause happened near 17380/60, the point where the September’s upside breakout began. This gives a breathing room for the bulls, which should prompt a push higher today. We expect such upside attempts to face a test of strength at 17470, and will look for a direct rise above 17530/80 band to play short covering rallies.
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