Market Watch : Oil`s decline pauses ahead of US Iran nuclear deal - Geojit Financial Services Ltd
Nifty Outlook
Though we had pencilled in our preference towards upsides to 25200 for yesterday, our conviction level was low given the lack of momentum. But, as it turned out, the early dip provided the launch pad to gain momentum that would spark the eventual surge above 25000 for the first time since October 2024. This move also saw the breakout past the triangular pattern that we had highlighted yesterday. With 74% of Nifty 50 stocks still below upper Bollinger band, the uptrend does have more legs. Yet, with bulk of yesterday’s spike concentrating in an hour post afternoon, opening moves might have a tendency to pull back at least till 24971, before reattempting upswings. Downside marker may be pushed higher to 24806, with an upside objective of 25235.
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