Top two trading ideas by Sacchitanand Uttekar of Tradebulls Securities

Nifty outlook and stock recommendation by Sacchitanand Uttekar, DVP - Technical (Equity)

Nifty managed to regain itself above its critical support area around 10,800. The recovery was led by strong price action in selective heavy weight stocks especially from the financial & metal sectors. On the daily scale, sustenance above 10,920 is a must to regain its strength & negate the Bearish Belt Hold formation which occurred at the beginning of the week; hence the index could remain vulnerable towards global cues in the coming days.

A move above 10,970 would negate the Bearish Belt Hold formation & hence remains an ideal stop for revival of bullish momentum. Revival above 10,970