The firm opening yesterday, followed by reclaiming 24670 in the first hour itself, signalled that Nifty is not in a mood to give into the bearish expectations that were floating for the last two days. The nearest challenge is 24900-975, but the question we have been pondering all this week is if it is time yet to look beyond. Standard deviation studies point to restrained upticks, and a consequent narrowing of bollinger band that limits upside objective for now, but given the relatively higher momentum that we had noted at the start of the week, we could still be playing the uptrend, with intraday downside marker at 24710/640 and for the broad uptrend at 24410.

 


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