Nifty outlook and top trading ideas by Tradebulls Securities

Nifty outlook and few trading ideas by Sacchitanand Uttekar, Asst.Vice President - Research Technicals (Equity), Tradebulls Securities:

Nifty Outlook: The ongoing momentum seems diminishing as the index approaches its previous swing low around 10270. The level also coincides with the upward sloping trendline support placed near 10230 zone; with the daily RSI placed near the oversold zone it’s advisable to reduce shorts & await for a reversal signal on the daily scale. Options data indicates a range of 10500-10200 for the expiry & hence any unwinding pressure in confluence with the price action sustaining above 10400 could push the action towards the upper bound of the range. Traders are advised to exercise caution while trading on the