Nifty Outlook and key trading ideas by Sacchitanand Uttekar, AVP – Technical (Equity), Tradebulls Securities:
Nifty Outlook
Proximity towards the upper end of the weekly ‘Megaphone’ formation and the recent series of ‘Breakaway & Run-Away’ gaps at key junctures highlights the recent upmove as a final leg towards the Climax point. Therefore, traders should maintain longs with strict stop below 10,390 (Closing Basis) & review the formation near 10,540 (upper end of the ongoing Megaphone pattern). It is likely that the ‘Exhaustion Gap’ could be just around the corner & serve as a STOP for the upmove which commenced
