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Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW
NIFTY VIEW
Nifty has confirmed the lower top formation in the daily chart at 10770 levels and has also formed a bearish engulfing pattern in both Nifty and Bank Nifty indices. Midcaps continued to drag with heavy selling pressure and sentiment has been worrisome. However, the support for the day is seen at 10570 while resistance is seen at 10680. All eyes would be now on the monetary policy outcome which would be crucial.
BUY JUBILANT FOODWORKS
CMP: Rs 2,561.15
TARGET: Rs 2,780
STOP
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