Market Watch: Nasdaq recovers but caution remains ahead of Fed decision - Geojit Financial Services Ltd
Nifty Outlook
While we had set us up for the anticipated upswings to end near 23128, the dramatic drop quickly thereafter did catch us by surprise. While this casts doubt on the recovery attempts that we had lined up for yesterday and onwards, the long wick candles in the last two hours each representing turn from the high as well as the low, point to rejection trades and an unwillingness to set off on a directional move. In other words, indecisiveness rules, putting the trend evenly poised for the day. We will wait for a push beyond 22800-23200 band to gain more clarity.
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