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Nifty outlook and technical calls by Vinay Rajani, Technical & Derivatives Analyst at HDFC Securities
Nifty likely remain bearish unless it closes above 10800.
On Tuesday, in last half an hour of trading, Nifty recouped all the intraday losses and closed with a “Doji” candlestick on the daily chart. Doji Candle indicates indecision between bulls and bears. Tuesday’s low which is 10583, has now become short term support in Nifty. However, overall trend would remain bearish unless Nifty surpasses 10800 on closing basis. Any level below 10583 could drag Nifty towards 10335 support.
Buy AXISBANK
Target: Rs 704
Stop Loss: Rs 645
The stock price has
