Expect Nifty to trade between 9,000-9,400 next week: Sacchitanand Uttekar

Nifty outlook & trading ideas by Sacchitanand Uttekar, AVP - Research & Data Analysis at Tradebulls

Nifty outlook and few trading ideas by Sacchitanand Uttekar, AVP – Research & Data Analysis at Tradebulls.
 
Nifty Outlook:
 
The broader market trend remains intact so far as 8,860 holds on the intermediate scale but some signs of fatigue is visible on the immediate scale. The occurrence of a ‘Hanging Man’ formation along with a negative divergence on the RSI augurs well for the ongoing time & price correction. For the coming week we expect 9,140 to act at a crucial level for gauging momentum & a sustained breach below the same could push the indices lower towards