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Market Watch: Asia buoyed by US tech stocks` rally by Geojit Financial Services Ltd
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Nifty Outlook
We prefer to enter the shortened week on a cautious note as negative oscillator divergences have emerged, with fast stochastics peaking, as well as standard deviation studies pointing to price nearing interim extremes. This should ideally call for a mean reversion move, thus limiting our upside expectations for the time being to 23580-680, with 23420 seen as the day's downside marker. However, the turn lower may not be steep, and could return to the 24130 trajectory, if 23200-23050 supports restrain corrections.
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