Nifty outlook and top trading ideas by Sacchitanand Uttekar, AVP – Technical (Equity), Tradebulls:
Nifty Outlook:
Nifty ended the month with fresh slippage of 2.59% MoM as it closed around 10113 on the final session of the month. The level also corresponds with its 200 days Exponential Moving Average. The immediate trend remains weak and any close below 10,030 could amplify the weakness. Derivative data still indicates as immediate range of 10,000-10,200 while technically a swing resistance also corresponds near 10,250 zone. The truncated weekly close ahead of the long weekend doesn’t support much materialistic evidence of a
Nifty Outlook:
Nifty ended the month with fresh slippage of 2.59% MoM as it closed around 10113 on the final session of the month. The level also corresponds with its 200 days Exponential Moving Average. The immediate trend remains weak and any close below 10,030 could amplify the weakness. Derivative data still indicates as immediate range of 10,000-10,200 while technically a swing resistance also corresponds near 10,250 zone. The truncated weekly close ahead of the long weekend doesn’t support much materialistic evidence of a