Market Watch : Nifty eyes short covering by Geojit Financial Services Ltd

Nifty Outlook
Yesterday’s bounce back paused just short of breaching 25120 pencilled in yesterday, as a key pivot. We will look forward to trades above the same to consider short covering possibilities, but upside prospects appear limited to 25215 or 25400 with the ongoing pattern fitted inside a descending broadening wedge. Meanwhile, the 200 day SMA is in the 24000 vicinity, with intermediate supports seen at 24800 and 24450.
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