Market Watch : CPI below estimates. Nifty eyes recovery by Geojit Financial Services Ltd

Nifty Outlook
Approach to the 200 day SMA has slowed down the decline’s momentum, while broader market has also shown signs of uptick. However, we are yet to spot signs of a vertical recovery, and upswing attempts are most likely to be turned down by either 25170 or 25220. Direct rise above the same could signal bullishness, with initial eyes on 25420. Prospects of the same appear low though, while a collapse beyond 24920 is also less expected, today
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