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Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW:
Technically, now Nifty has broken the major support level of 10280 in the daily chart and has opened the new support level of 10100 which is also more or less where the significant moving average of 200 DMA lies. The pessimism has crept in with the Banking counters looking weak and we anticipate further selloff in the coming days. However, the support for the day is seen at 10180 while the resistance is seen at 10300.
BUY BPCL
NIFTY VIEW:
Technically, now Nifty has broken the major support level of 10280 in the daily chart and has opened the new support level of 10100 which is also more or less where the significant moving average of 200 DMA lies. The pessimism has crept in with the Banking counters looking weak and we anticipate further selloff in the coming days. However, the support for the day is seen at 10180 while the resistance is seen at 10300.
BUY BPCL
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