Nifty to witness selling pressure in the short-term, says Chandan Taparia

Recommends buying Bharat Financial, selling Punjab National Bank

Nifty outlook and top three trading ideas by Chandan Taparia of MOSL:

Nifty Outlook:
 
Nifty index failed to hold above its crucial hurdle of 9,880 and corrected sharply after breaking its immediate support of 9,775 mark. During the day it fell down towards 9,740 and finally closed the session with the loss of around 83 points. It formed a bearish candle on the daily chart and closed below to its 50 DEMA which has a negative implication if follow up selling continues. It is just few points away from the major support trend line by connecting the lows