Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher.
NIFTY VIEW
Nifty has maintained the positive momentum for the 8th consecutive days and the daily trend has been up for the past 14 days. The barrier of 10470 has already been conquered and now waiting to test for the level of 10560 and thereafter 10630 where the major hurdles are anticipated. Once this has been achieved, Nifty can see fresh upward movements with a positive bias. However, the support for the day is seen at 10480 while the resistance would be at 10580