Market Watch : Brace for Budget Day volatility - Geojit Financial Services Ltd
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Nifty Outlook
The MACD histogram exhaustion and the potential formation of an Evening Star candlestick on the weekly timeframe suggest buildup of weakness. This technical setup could lead the index towards the 24,130 - 24,000 levels, which may initially serve as a base for reversal attempts. However, a breach below 24,000 could lead to further downside risks, with the next support zone lying between 23,055 - 23,000. On the Budget Day, heightened volatility is expected, with 24,620 - 24,370 marked as the critical intraday range.
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