IGI Logo

Nifty Outlook

Though a turn lower unfolded on Friday, precisely from the 24130-24230 exhaustion region, we are not convinced of a collapse right away. This is evidenced by the fact that MACD has not crossed over as yet, and that the directional moving indicators have begun to diverge after remaining soft until late last week, suggesting that the trend is about to get directional. That said, we will allow for declines to persist initially, eying the maturity of a declining wedge inorder to re mount the upsides, but will be equally prepared to play downtrend, on slippage past 23900, our initial downside marker. Upside marker meanwhile is placed at 24150

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 

SEBI Registration Number: INH200000345