Stock calls by Tradebulls Securities: Buy Britannia, sell Tata Chemicals

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

Nifty view

The index closed above the resistance zone (10,950-10,970) of ongoing consolidation. The witnessed breach from four- month long consolidation is expected to attract short further, short covering that can accelerate move on the upside till 11,300 levels in the coming sessions. Daily relative strength index (RSI) breached above its resistance zone placed around 60 levels paving way for higher prices. Occurrence of a large bullish candle post breach above consolidation range resonates the underlying bullish strength. Traders should continue holding longs and add on dips, if any, for 11,300 levels to be obtained in the coming sessions with stops