Nifty outlook and top trading ideas from Sacchitanand Uttekar, DVP – Technical (Equity), Tradebulls Securities
Nifty Outlook:
Nifty continued its upward journey moving past 10900 levels as expected. The index is comfortably trading above its 200 DEMA with Daily RSI yet to witness overbought levels suggesting a further room on the upside till 11150 levels. Fresh writing at 10800 PE reaffirms the support moving higher and underlying bullish strength building up with broader participation. The index closed above its previous peak of 3rd Dec at 10941 with no visible signs of exhaustion hence traders should maintain their long bias with a stop