Buy and sell ideas by Sacchitanand Uttekar of Tradebulls Securities

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

Nifty View

The Nifty breached and closed below 200 DEMA that acted as support for two consecutive sessions in a row. Daily RSI registered fresh 14 periods low along with a continuation of downside momentum suggests downtrend might continue unless prices surpass above its 100 DEMA currently placed at 11,537. The 11,300 put writers were unable to defend the level paving way for 11,100 swing low. Breach and close below 200 DEMA levels will lead to an extended drop towards its major swing low placed around 11,100 levels. As most of the indicators are nearing the oversold state and