Upswing likely after dip to 23693; flag pattern supports trend - Geojit Investments Ltd
Nifty Outlook
While the dip to 23693 evolved on anticipated lines yesterday, the swing higher thereafter was timed out. We will go in today expecting a resumption of the upswing, further encouraged by a flag formation. However, the 23822-930 region appears as a significant challenge, a break of which is required to signal strength that can carry Nifty all the way to 24400, our target pencilled in at the start of the week. Inability to clear 23930 could trigger a gap filling drop to 23465.
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