Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher.
NIFTY VIEW
NIFTY VIEW
Nifty after breaking the previous support of 11,250 along with Bank Nifty too and weekly trend being down, we continue to have a corrective bias. The support for the day is seen at 36,860/11,160 while resistance is seen at 37,350/11,300. Bank Nifty would have a range of 26,000-26,500. Market is witnessing selling in almost all sectors; hence we need to wait for stability. RSI, too in the daily chart is at 41 levels, which cannot rule out scope for further