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Nifty outlook and technical calls by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:
NIFTY VIEW
Nifty, closes below previous low of 10140 and also below much talked about 200 dma (Currently placed at 10166 level) for the second day in the row. It also broke the support of the upward sloping trend line adjoining the bottoms of 30th June 2017 and 29th Sep 2017 yesterday. Moreover Nifty is maintaining the bearish pattern of lower tops on the daily charts, and the recent top of 10479 would act as a strong resistance for the medium term.
From
NIFTY VIEW
Nifty, closes below previous low of 10140 and also below much talked about 200 dma (Currently placed at 10166 level) for the second day in the row. It also broke the support of the upward sloping trend line adjoining the bottoms of 30th June 2017 and 29th Sep 2017 yesterday. Moreover Nifty is maintaining the bearish pattern of lower tops on the daily charts, and the recent top of 10479 would act as a strong resistance for the medium term.
From
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