Market Watch : US jobs data eyed for rate cut ideas - Geojit Financial Services Ltd
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Nifty Outlook
We have had stronger falls recently and recovered. Hence, yesterday's decline is viewed with suspicion that this may not be the crack that the oscillator divergences have been pointing to. Further, yesterday's small legged candle suggests that there was not much of a rejection either. This highlights the potential for bargain hunting resurfacing again. We had gone in yesterday expecting 24330-400 initially or an extension to 24500 beyond visibility remains very low. We do not intend to shift from this view now, but downside marker may be moved to 24160
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Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities
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Banking index is likely to trade in line with the benchmark index today with support at 5050...
