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Nifty Outlook.

We had gone in yesterday, expecting a continuation of ``sell on rallies`` bias, but with preparation for riding a brief upswing. But the upswing hardly took off, with trades sticking to the 23700-750 vicinity ofr most part. Yet, the inside bar formed tereof encourages us to persist with upswing expectations, though we continue to see 23900 as well as 24000 atempting to keep the bias on a `sell on rallies mode`. As maintained yesterday, the recent low of 23263 is not far, but there is a fair possibilty of the ongoing downswings to ease off without penetrating 23400. We believe, an outright fall below 23263 may take a while to evolve. Major supports below are seen at 23000 and 22260.

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