Stock calls by HDFC Securities for today: Buy Wipro, PFC

Nifty outlook and technical calls by Vinay Rajani, Senior Technical Analyst at HDFC Securities

Nifty View

The recent bottom of 10004 in Nifty seems to have become short-term bottom for the Nifty, as oscillators have been showing strength while markets were dragging down during last week. Nifty bounced back sharply after taking support at its 100-week moving average, placed at 10000 odd levels.  There has been a development of positive divergence on the Daily RSI Indicator, where Nifty has formed a new bottom and RSI has made a higher bottom. This setup indicates that though Nifty fell in the previous week, selling