Market Watch: Nifty poised to extend gains, but US Election outcome, Fed meet in focus - Geojit Financial Services Ltd
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Nifty Outlook
The plunge in the first half raised collapse fears again, but the anticipated mean reversion move higher unfolded in the second half, settling inside the 24176-260 pencilled in yesterday as the end point of the initial move. It is fair to expect a follow through upmove today, with rejection trades expected to resurface at 24470. That said, we would be inclined to extend upside hopes to 24660-770 or even 24950 should we manage to stay above 24360. Downside marker may be pushed higher to 24118-24065 region.
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Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities
