Nifty outlook and three trading ideas by Chandan Taparia of Motilal Oswal

Buy Maruti Suzuki, Escorts and LIC Housing Finance, says Chandan Taparia

Outlook:

Nifty index managed to hold its immediate support of 9,850 and headed towards 9,925 mark. It closed above 9,900 and given a highest daily close in last 15 trading sessions. It formed a Hammer candle with bigger lower shadow which indicates that decline is being bought in the market. It has been respecting to its rising support trend line by connecting the swings lows of 9,075, 9,448 and 9,685 mark. Now it has to cross and hold above 9,928-9,950 zones to witness a fresh move towards 10,020 and 10,050 while on the downside supports are seen at 9,850 and