Nifty outlook and top trading ideas by Tradebulls for today

Nifty outlook and top trading ideas by Sacchitanand Uttekar, AVP – Technical (Equity), Tradebulls:

Nifty Outlook: Nifty resumed its weakness after a brief pause in yesterday’s trading session as weakness intensified below the level of 10470. The crossover in short term averages still indicates further room towards 10325 zone which is the 61.8% retracement support of its previous up move from 9950-10929. The ongoing momentum could only see a reversal incase 10580 is breach, else expect further weakness during the week. Hence traders should retain shorts until 10580 is defended with an expectation of an immediate extension towards 10325.