Market Watch : Rising geopolitical tensions hurt risk appetite - Geojit Financial Services Ltd
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Nifty Outlook
While we had not expected Tuesday's upswing to push beyond the 23733-88 band, the hammering and the extent of pull back thereof was indeed surprising. With more Nifty500 stocks ending up above 10day SMA than on Monday, we feel that risk appetite is alive and are encouraged to ignore the large downside and scout for upside attempts again, early in the day. However, inability to float above 23565 could signal quick slides to 23100-22800.
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