Morning Nifty and Derivative Comments 17 February 2025 By Anand James, Geojit Financial Services
Below the Quote on Technical Views by Anand James, Chief Market Strategist, Geojit Financial Services
Nifty outlook:
Though 22800 stepped in to avert a collapse, yet again, prompting a pull back towards Friday’s close, it ended without providing enough signals towards an outright turn higher. Also, we feel that VIX is potentially on the way up, an indication that 22800 is very likely to give away, despite a hopeful finish to the week. So far the decline from September peak along with an interim pull back ending precisely at the 50day SMA, fit perfectly within the declining channel, projecting 21800-21300 as the break down target. Opening trades will take cues from the fight back of the closing hour of Friday, as well as positive oscillator divergences in short term periodicities, but it would require a push beyond the 23000-23300 band to avert an imminent drop. - Read more
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