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US equities` rise signal a rebound - Geojit Financial Services Ltd
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Nifty Outlook
Two consecutive days of declines did cast doubts on to the recovery moves being attempted since 8th October. However, the oscillator signals that gave us the confidence to enter such recovery moves in the initial phase itself, continue to persist, encouraging us to continue playing for 25390 and more. Further, the support offered by 24900 yesterday has fitted the recent swings into a parallel consolidation pattern, giving a launch pad for an upswing. We will keep our downside marker close, in the 24900-830 region.
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