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Nifty Outlook
Some respite on last day to reclaim 10,800
Last week, we closed with some hopes of a relief rally and on Monday, the proceedings began on expected lines. But at higher levels, market faced a sturdy wall around 11,150, which resulted into a moderate decline for the next couple of days. However, on Wednesday, things became worse as we witnessed a relentless sell-off and the Nifty slid below the recent swing low of 10,782.60. On Friday, th eindex continued its selling streak and gave a sharp correction to sneak below the 10,650-mark.
Fortunately, a strong buying emerged
