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Market Watch : Market Watch: Early signs point to equities attempting recovery from global rout - Geojit Financial Services Ltd
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Nifty Outlook
The bounce from the vicinity of the 50day SMA has given us hopes that a recovery is being attempted. The first leg of such a recovery move should aim for 24389, where a pause is likely, but a second leg to the recovery move could also be expected which however needs to a reclaiming of 24540/570 for sustenance. Alternatively, inability to make any head way beyond 24389 or a premature turn back below 24119 could signal regrouping of bears.
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Quote on?Market Wrap by Shrikant Chouhan, Head Equity Research, Kotak Securities
