No sign of bearish trend reversal in short term for Nifty: HDFC Securities

Nifty outlook and technical calls by Devarsh Vakil & Vinay Rajani - PCG Desk, HDFC Securities.
 
Nifty Outlook:
 
Hold Nifty Longs with 10,200 Stoploss
Upside Target 10,540
 
Positional setup of Nifty is still bullish with higher tops and higher bottoms. Nifty has surpassed the previous top resistance of 10,251 and registered new all-time high at 10,384 recently. There is no sign of bearish trend reversal seen as of yet on the short term charts of Nifty. We maintain our bullish view in Nifty with the earlier anticipated target at 10,540 and it is also advisable to