Nifty longs can be held with a stop at 17,200, recommends Vinay Rajani

The technical analyst from HDFC Securities expects CDSL and Polycab to perform well

After forming bearish Engulfing pattern on 13th December, the NSE Nifty saw some follow up selling and closed with minor losses on following day. The Nifty has been finding resistance at 50-day EMA, which is currently placed at 17,507 levels. Higher highs and higher lows are still intact on Nifty short term charts and therefore, Nifty can be held long with the stop-loss of 17,200, below which it would be advisable to cut longs and initiate fresh shorts.

CDSL
Buy: Rs 1,668
Target: Rs 1,825
Stop-loss: Rs 1,575

The stock has broken out from the bullish cup and