Buy and sell ideas by Sacchitanand Uttekar of Tradebulls Securities

Nifty outlook and top trading ideas by Sacchitanand Uttekar, DVP - Technical (Equity).

The Nifty continued its upward trajectory post 100 DEMA (11,542) acted as support for multiple trading sessions. However, the index was unable to surpass the 20 DEMA (11702). Daily RSI breached above its signal line hence any move above 50 levels might attract further upside momentum.

Seasonality data indicates that historically July has yielded positive returns in seven out of 10 instances since 2009 with an average return of close to 3 per cent and a bullish reversal from here-on could result in sharp an upside momentum kicking in while a move below 11,600 levels would commence a corrective