Nifty Outlook
Though the upswings did not stretch as far as 24960, rejection trades did evolve soon after breach of 24900, raising fears of a retest of 24650. Upswing attempts that are usually set off following a downside gapped opening, are expected today, and we see 24788 as an important pivot. Should 24650-600 region give away, expect 24450, but a sustained downside is less expected today. Alternatively, ability to float above 24788 will be seen as a positive sign, but it would require a breach of 24960-25050 band to play a 25330 move. Read more.
