Nifty Bank index may outperform in the days ahead: Sacchitanand Uttekar

Market outlook and stock picks from Tradebulls

Here are two stock ideas and market outlook from Tradebulls:

Nifty Outlook

Fresh highs with sustained up move highlight the ongoing strength in the trend. Though Nifty remained confined within its previous day’s session for most part of the day, the sequence of higher lows remained intact. 

A breach above 9640 could extend the rally towards 9740 while a sustained breach below its previous day’s low of 9570 would distort the ongoing sequence. Momentum traders could retain their longs with a trailing stop below 9570 while aggressive bets /leverage longs near the extremes of the range should be avoided