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Market Watch : Will F&O expiry turn the tables - Geojit Financial Services Ltd
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Nifty Outlook
On the monthly F&O expiry day, it appears that weekly bearish indicators have matured, taking into account the possibility of the index retesting levels of 24,200-24,150. A test of these levels in the initial hours could provide an opportunity for bulls to regroup and attempt an intraday pullback. However, the 24,550-24,600 zone continues to act as an immediate hurdle for the index. We maintain our stance that a breach below 24,000 could lead to further downside risks, with the next support zone lying between 23,055 and 23,000.
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Quote on?Market Wrap by Shrikant Chouhan, Head Equity Research, Kotak Securities
