Market Watch: Asia rises. Poised for a Santa rally? by Geojit Investments Ltd
Nifty Outlook
Nifty has been sliding along a declining trendline for the last three weeks. However it is better poised now than earlier weeks, to stage an upmove. Incidentally, the week's downside attempts were held just above the previous week's low pointing towards a bottom formation. This encourages us to aim for 26300 initially. However, should Nifty fail to float above 25980, expect sideways moves. We will wait for a slippage past 25650 to play full reversal, aiming 25300-25130 initially.
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