Market Watch : All eyes on US China`s fiscal measures also in focus - Geojit Financial Services Ltd
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Nifty Outlook
A mean reversion move higher is expected after Nifty's plunge below the August low of 23894, took it to the farthest from its 10 day EMA since 22nd Oct. An inside bar in 4hr charts also encourages us to pursue such an upmove. But, with VIX closing strong despite the recovery move in the second half, risk appetite still appears low, prompting us to limit upside expectations to 24176-260 for today. We will however, be encouraged to chase prices higher to 24660-770, should there be a close above 24360. Downside marker may be placed near 23950, below which, the 200 day SMA at 23452 will stand exposed.
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