Hold Nifty longs with stoploss at 15,200: Vinay Rajani of HDFC Securities

Nifty outlook

Nifty has been taking support at its 5-day EMA and holding the short-term trend on the upside. The primary trend of the market is up, but although momentum is diminishing for the last couple of days, as far as Nifty is concerned. However, unless Nifty breaks the near-term support, which is placed at 15,200, traders should continue to hold on to their long positions. Short-term resistance for the Nifty is seen at 15,470-odd levels. 

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Disclaimer: Vinay Rajani is Senior Technical and Derivative Research Analyst at HDFC Securities. The analyst doesn't have any holding in the stock. Views are personal