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Nifty outlook and top trading ideas by Sacchitanand Uttekar, AVP – Technical (Equity), Tradebulls:
Nifty Outlook:
Nifty Outlook:
Nifty continues to head North & has been respecting its 5 days EMA well. Though it witnessed some bouts of profit booking but the series of higher highs & higher lows continues. With the 61.8% retracement level of 10705 negotiated well we expect the index to move towards 10910 (78.6% retracement level of its previous decline from 11172 to 9952). As the trend progresses the range has been shifting upwards with its lower bound support now placed at 10640 from 10500. Derivatives data
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