Stock calls by Tradebulls Securities: Buy Bharat Financial, Bata India

Nifty outlook and top trading ideas from Sacchitanand Uttekar, DVP - Technical (Equity), Tradebulls Securities.

The Nifty50 index recovered after testing the lower consolidation support levels of 11,550. Open interest (OI) concentration band for monthly expiry shifted higher, currently standing at a narrow range of 11,700-11,800. A sharp recovery along with deescalating VIX from elevated levels augur well for sustenance of the upmove targeting the upper end resistance of the consolidation placed around 11,810. We expect the index to oscillate within the range of 11,810-11,550 for some more time before it commences its major up move. A move below 11,450 could be detrimental from here on and could mark the commencement of a larger corrective