Immediate support for Nifty seen at 10,240-10,123: Angel Broking

Few trading ideas by Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking:

Nifty Outlook:

Merry days continued for our market immediately post the festive week. Barring negligible cut on Friday, the index kept marching higher during the week and eventually reached yet another milestone of 10,300. There have been various heroes in this year’s relentless run; but, this week, undoubtedly all credit should go to laggards (PSU Banks), which turned into gold overnight by clocking whopping gains of more than 30% in a single day. 

Honestly speaking, it’s very difficult to digest such kind of unstoppable move; but eventually we have to