Market Watch: Muted close awaits Nifty for the second consecutive week by Geojit Investments Ltd
Nifty Outlook
What was emerging as a bullish continuation pattern, encouraging us to retain hopes of extension in uptrend, is fast evolving as a topping pattern. Incidentally, yesterday’s dips had to stretch all the way to our downside marker of 25886, pointing to the underlying bearishness. Expect initial upswings today from here, but they are likely to be capped at 25960, followed by down moves. Alternatively, direct rise above 25960 could delay or prevent a potential fall to 25700-25400, but a vertical rise is less expected.
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