Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW
Nifty closed in the red for the 2nd consecutive day and the sentiment has been shaky with Bank Nifty looking weak and ready for some more profit booking in the coming days. The RSI in both indices has indicated a steep downward movement and we suggest market players maintain a cautious outlook for the near future. The support for the day is seen at 37420/11280 while resistance is seen at 37820/11410. Bank Nifty would have a range of 27530-28000.
BUY INDUSIND BANK
CMP: