Market Watch: Nifty aims to extend recovery even as Asia trades lower on US tariff plans on China - Geojit Financial Services Ltd
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Nifty Outlook
The break of 22000 in Nifty did bring in jitters, and the recovery swing on Friday failed to push much above our upside marker of 22095. Seen in isolation this suggests that the 21500trajectory that we had set out with on Friday continues to be in play. However, the formation of an inside bar, especially at the Bollinger band extremity, gives us a whiff of hope that a relief rally aiming 22223-22400 is likely to unfold in the early part of this week. Similar setupin oscillators as well as directional moving indicators were seen in late April, when a vertical recovery from 21777 unfolded. A direct fall below 21777 or inability to clear 22095 will negate upside hopes.
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