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Nifty outlook and stock ideas by Sacchitanand Uttekar, DVP – Technical (Equity), Tradebulls:
Nifty Outlook:
The recent ‘Engulfing Bearish’ formation post the 4 days up move complimented the unwinding state & saw a decline towards 10550. On the options front 10500 PE remains heavily built up & remains a strong support followed by 10600.The options pain remains at 10600 for the current series & the spinning top formation in yesterday’s session augurs well for a consolidative state hence expect the index to retain the range of 10730-10550 for the coming days.
Stock: BAJAJ FINANCE
Reco: Buy
CMP:
Nifty Outlook:
The recent ‘Engulfing Bearish’ formation post the 4 days up move complimented the unwinding state & saw a decline towards 10550. On the options front 10500 PE remains heavily built up & remains a strong support followed by 10600.The options pain remains at 10600 for the current series & the spinning top formation in yesterday’s session augurs well for a consolidative state hence expect the index to retain the range of 10730-10550 for the coming days.
Stock: BAJAJ FINANCE
Reco: Buy
CMP:
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