Market Watch: Caution returns, eying US CPI, rate decision by Geojit Financial Services Ltd
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Nifty Outlook
Nifty persisted with a consolidation mode for the most part of yesterday on expected lines, but the drop in the closing moments lends a bearish bias for today. We will however, continue to stick with the view that this may not evolve into a 22600 plunge, with 23050-22950 region appearing as a near term support. While we might have to wait before we get back on to the 23530-24130 trajectory, expect an extended period of consolidation with 23300 appearing as a key pivot for the day.
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