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Charts show bulls are making a strong comeback: Nilesh Jain of Anand Rathi

The momentum indicators and oscillators on the weekly scale are very well on buy mode. The volatility index --India VIX -- has also started cooling down which is giving comforts to the bulls

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Aggressive traders can initiate a long position

Nilesh Jain Mumbai

2 min read Last Updated : Sep 11 2020 | 8:13 AM IST

BUY NIFTY | TARGET: 11,550 | STOP LOSS: 11,360

The Nifty index negated the formation of lower top and lower bottom formation pattern on the daily chart. Also, it has provided a breakout from a falling trend line on the hourly chart, which hints that the bulls are making a strong comeback. The momentum indicators and oscillators on the weekly scale are very well on buy mode. The volatility index “Indiavix” has also started cooling down which is giving comforts to the bulls. Hence, aggressive traders can initiate a long position for a pullback towards 11,550-11,600 levels.

BUY BPCL | TARGET: Rs

Topics : Stock calls Nifty Outlook Market technicals Markets BPCL HDFC Life Lupin

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