Market Watch : Oil's rally pauses. Traders eye US decision on Middle East by Geojit Financial Services Ltd
Nifty Outlook
Though Nifty hung around near previous close, broader market plunged, marking a strong divergence. Only 11% of Nifty 500 stocks closed above their respective 10 day SMAs, suggesting that we may have entered an extreme too soon, raising hopes of a pull back. As maintained yesterday, while dips to 24720-690 unfold, we will be on the watch out for upswings. Slippage past the same would however diminish the upswing hopes. But we do not expect a collapse to 24060 right away, with 24500 region expecting to step in, as maintained yesterday as well.
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The Index can short if it sustains below 25100 for the potential target of 25000 and 24900 w...
