Stock calls by Tradebulls Securities: Sell JSPL Future, LIC Housing Fin Fut

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

Nifty seems to have hit the overbought zone as most of the key indicators are displaying signs of extreme optimism. On the daily scale, the occurrence of a ‘Hanging Man’ formation alongwith its corresponding relative strength index (RSI) value quoting around 75 compliments the over optimism. Market breath, too, has been in favour of declines as the advance-decline ratio has been tilting in favour of the declines since last couple of days. 

The bullish baton has been with some of the key largecap names while profit booking in mid-caps has been evident. On the derivative end, the highest CE OI concentration