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Nifty Outlook

The week thus far, we had stayed away anticipating vertical moves, due to poor signals from momentum indicators. But yesterday’s trades being contained within the previous day’s candle, the stage is perhaps set for an expansion in trading range. Meanwhile, a descending broadening wedge breakout appears to be maturing in 15 minute chart, supporting the upside breakout hopes. That said, the 25588-650 region will continue to be challenging, but with higher chance of giving away, exposing 25730-850 as the initial upside targets, followed by 26200. Downside marker will be at 25440 that seeks to prevent 25300-24920 being exposed.

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