Stock calls by Tradebulls Securities: Buy Federal Bank, Bata India

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

Nifty Outlook:
 

Recent decline post the swing high near 10,774 has been healthy for the ongoing uptrend. The index has been respecting its 20-DEMA and has been hovering near it, also on the 30-minute scale, the upmove which commence from 10,440 has its Fibonacci supports coinciding near 10,560 zone. Also on the daily scale, the trend strength indicator is placed too far from its overbought zone and is quoting well above its 50-mark. Hence, the ongoing decline could be bought with a stop below 10,440 for