Market Watch: Nifty eyes fresh cues to sustain the steep gains of the week - Geojit Financial Services Ltd
Nifty Outlook
Nifty seemed to be in a hurry yesterday, taking just three days to travel the upper half of the Bollinger band range, in stark contrast to the 10 days needed for the lower half. In doing so, it cast aside any need for consolidation, which was half anticipated yesterday. While all this is in line with the 23450- 23807 trajectory, the close above the upper Bollinger band as well as an evening star candlestick formation recommends a cautious approach today. Plenty of supports below, at 23085- 23025-22970 shall attract bargain buyers, but slippage past the same could expose 22650. A collapse is less expected though.
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Quote on Market Morning Inputs by Shrikant Chouhan, Head Equity Research, Kotak Securities
