Nifty outlook and top trading ideas by Sacchitanand Uttekar, AVP – Technical (Equity), Tradebulls:
Nifty Outlook:
Action remains outside the index as Nifty has been oscillating within the range of 10,620-10,550. We expect the range bound action to continue within the broader range of 10,705-10,500 & maintain our bullish bias until 10,490 is not breached on closing basis. On the other hand, banking sector continues to add pressure & is slightly tilted towards the negative side due to persistent weakness in PSU names. On the flipside, a breach above 25,130 in bank nifty would trigger fresh positive momentum until then expect