Market Watch : Nasdaq dives nearly 4% - Geojit Financial Services Ltd
Nifty Outlook
We had started yesterday eying downsides to 22245, with 22470 pencilled in as a potential pivot. Incidentally, the day’s downsides were arrested near 22470, but it was largely a result of how late the momentum of the downswing set in. While this will force a downside gapped opening in an attempt to fully achieve the downside objective, a fight back could be signalled if 22350/300 region stays intact. Alternatively, inability to clear 22520 on the bounce, or a direct fall below 22245 could accelerate a dive aiming 21720.
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