Nifty Outlook - Market Radar - April 30, 2020 - Geojit

Though, Nifty pulled back swiftly after heading into the 9570-9650 region yesterday on anticipated lines, the 10300 view looks more visible than earlier. The rising wedge pattern is less potent now and has been replaced by a parallel upside continuation pattern as the dominant one. However, the +2000 point recovery rally from the March lows have so far unfolded at a steep angle, and most of the intermediate moves have found pull backs, having come at an angle of more than 70 degrees. Hence, a mean reversion or volatility needs to be expected in the coming days. The downside reversal point for now is reset to 9230.

Source : Equity Bulls

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