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Market Watch : Bulls attempt to regroup, but bears still call the shots - Geojit Financial Services Ltd
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Nifty Outlook
While pencilling down 24800 as the region that could step in and slow down a dive initially aiming 24400, we did not expect Friday to end without conquering the same. This raises the odds of a recovery swing, especially with oscillators in hourly periodicities deeply oversold. We will keep the downside marker at 24750, a break of which would re open flood gates for 24400-24000. Meanwhile, the bounce back attempts are where bears are likely to step in with more vigour, and the odds of reclaiming 25070 look low.
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