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Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
Nifty Outlook
Market witnessed erosion of this sort after a very long time and with a close above 9800 levels, Nifty has taken support of a long term trend line drawn from lows of 7,900 to 9,450 on June 30, 2017 and now, a decisive break of 9800 would bring in further weakness to take Nifty to 9700-9600. The support for the day is seen at 9770 while resistance is seen at 9860.
ITC - BUY
CMP: Rs 273.10
Nifty Outlook
Market witnessed erosion of this sort after a very long time and with a close above 9800 levels, Nifty has taken support of a long term trend line drawn from lows of 7,900 to 9,450 on June 30, 2017 and now, a decisive break of 9800 would bring in further weakness to take Nifty to 9700-9600. The support for the day is seen at 9770 while resistance is seen at 9860.
ITC - BUY
CMP: Rs 273.10
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