Nifty outlook and two stocks that HDFC Securities is positive on

Trading ideas by Subash Gangadharan, Senior Technical & Derivatives Analyst, HDFC securities.

Bulls in control

On  June  11,  markets  opened  on  a positive note and after a brief fall, resumed  to  climb higher. The index ended with healthy gains for the third consecutive session. 

The rise seen in the last three sessions has ensured that the Nifty support of 11,829 is still intact. These levels are now the short-term trend reversal levels for  the index. Further upsides are likely once the immediate resistance of 12,001 is taken out. Immediate upside target for the Nifty in this scenario is at the current life highs of 12,103.

Crucial supports to watch for resumption of weakness is at