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Nifty outlook and top trading ideas by Sacchitanand Uttekar, AVP – Technical (Equity), Tradebulls:
NIFTY OUTLOOK:
On the 180 min scale as expected the index faced resistance near the upper bound of the ‘Descending /Declining Channel’. The three days sequence of higher tops & higher bottom has been distorted. Traders should maintain shorts with a stop above 10340 with an expectation of a decline towards 10000-9940. With the rising volatility and the latest upward shift in the range of India VIX sustenance above 15.50 level could propel it towards 17.50 in no time. Due to its high correlation
NIFTY OUTLOOK:
On the 180 min scale as expected the index faced resistance near the upper bound of the ‘Descending /Declining Channel’. The three days sequence of higher tops & higher bottom has been distorted. Traders should maintain shorts with a stop above 10340 with an expectation of a decline towards 10000-9940. With the rising volatility and the latest upward shift in the range of India VIX sustenance above 15.50 level could propel it towards 17.50 in no time. Due to its high correlation
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