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Nifty Outlook
While optimism remained in the initial part, the inability to clear 25280 weighed on the traders, allowing slippages to our downside marker placed in the 25190-150, and even penetrate the same slightly in the closing hour. These two events, the rejection trades at the top and test of supports at the bottom, is classic of a consolidation that awaits momentum. Towards this end, we will begin the day expecting a swing higher, as long as yesterday's follow through weakness does not allow slippage past 25070, A direct fall below 25070 should however set up a collapse aiming 24400 with 24800 offering initial support, but our favoured view continues to expect 25800 but 25280 will continue to be an obstacle.

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