Market Watch : Nifty aims to recoup last week`s losses by Geojit Financial Services Ltd
Nifty Outlook
The turn lower from the highest point since mid July, that has now extended to seven consecutive days, appears similar to the beginning of a September 2024-March 2025 bear run. Meanwhile, a soft VIX and slow stochastics approaching oversold territories encourage us to watch out for a turn higher, or sideways early this week, given Nifty is now at 78.6 fibonacci retracement of the 29Aug-18Sep upmove. Upswings may aim for 24720-830 or 24970, before a drop to 24500, as the systematic declines of the last few days have created resistances that limits our upside expectations.
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