Geojit Market Watch: Nifty set to open higher on exit polls, GDP numbers by Geojit Financial Services Ltd
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Nifty Outlook
Friday's inside bar sets up Nifty to reverse the last week's downsides. Being at the 20d sma with fast stochastics at lower extreme, the anticipated upswing will have room for upside till atleast 23065 with a keyfibo seen at 23480, should a range breakout unfolds. Wild case scenarious projected from Frida;s closing of VIX pips the upper range at 24130 and lower range at 20930. Faukyre to float above 23065, will signal rejection trades, but will require a close back below 22954-841 for bears to dominate, in which case 22700-550-300 will be in play.
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