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Market Watch : Global equity rout continues. Goldman lift US recession to 25% - Geojit Financial Services Ltd
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Nifty Outlook
While preparing for a large fall on Friday, we had expressed hopes of intermediate supports at 24750 and 24600 providing a pause. The slippage did indeed restrain itself from evolving right away into a major collapse on Friday, but the feeble bounce off supports towards close without reclaiming 24850 is pointing towards stretching the ongoing down move to 24400-330, while also exposing 23670 again. Recovery hopes rest on how quickly we can get back above the 62% fibo of the recent high low retracement, at 23540.
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Quote on?Market Wrap by Shrikant Chouhan, Head Equity Research, Kotak Securities
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