 "For a liquid secondary market")
Nifty outlook and technical calls by Nandish Shah, Senior Technical & Derivatives Analyst at HDFC Securities:
Nifty View
Targets: 11,495 & 11,320
Stop Loss: 11,760
Nifty has breached the crucial support of 11,600 on Monday with bearish oscillator set up, which can be considered as a short-term bearish trend reversal. This has also resulted into a violation of 5 and 10 DMA in
Nifty.
Oscillators have been showing sign of weakness in the index for the last couple of weeks, but earlier there was no confirmation from the price side, as Nifty remained above the support levels. RSI had been trading in the overbought zone not only on
