Nifty Outlook
The 200 day SMA, now positioned at 24049 is clearly pulling Nifty down, with 23722 offering fibo support further below. However, direct rise above 24433/475 could spark short covering, initially aiming 24670. The boundaries on either sides, thus set, it must be noted that there is not enough momentum for directional moves. We will begin the week by eying positive oscillator divergences pointing to upswing possibilities as the week progresses. Read More.
