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Here are a few trading ideas by Sacchitanand Uttekar, Equity Technical Analyst & PFA at Motilal Oswal Securities:
Nifty Outlook
Nifty Outlook
Nifty remains confined within the ‘Bearish Marubozu’ range with resistance held firm around 8450. The placement of the daily RSI near the overbought zone warrants caution. A breach below 8370 (Low of Marubozu candlestick formation) would activate the bearish implication of the pattern. Hence, we recommend reducing leveraged longs & deploying adequate hedge for a while.
ARVIND
Reco: BUY
Last Close: Rs 370.20
Target: Rs 390
Arvind saw a breakout from a triangular consolidation with volumes. The follow up momentum could extend the up move
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