Market Watch : Nifty aims to look beyond budget - Geojit Financial Services Ltd
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Nifty Outlook
A marubozu lends more weight to the prospects of an extended fall that have been long in the making, as also suggested by MACD’s signal crossover attempts late last week. The first leg of downsides could ideally stretch to 23000. However, 24000 presents a convenient point for regrouping for bulls as well, during the week. For the day, a hurried entry towards 24300 or below might create a bearish exhaustion, allowing brief short covering attempts. The week’s view will stand as long as 24640 holds though
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