Any declines on Nifty an opportunity to add longs: Sacchitanand Uttekar

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

Nifty Outlook

After 8 days of a steady sequence of higher tops followed by higher bottoms, the index did slip below its previous day’s low. Though the broader trend is expected to remain intact with a minor hurdle near 10,100, slippages towards 9,888 should not be considered as a change in trend. We retain our stance that the upmove on a broader basis would continue towards 10,370 while momentum would be witnessed only above 10,100. Hence any declines should be considered as an opportunity to add longs.

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