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Here are a few trading ideas by Chandan Taparia, Derivatives and Technical Analyst & PFA at Motilal Oswal Securities:
Nifty Outlook:
Nifty index continued its losing streak for third consecutive session and corrected towards 9,120. It recovered well from lower levels and formed a Doji candle on the daily chart as closed near to its opening levels. Occurrence of Doji after the recent profit booking indicates that follow up selling is missing and decline is being bought in the market. Now it has to cross and hold above 9,165 to witness an up move towards 9,218 and 9,250
Nifty Outlook:
Nifty index continued its losing streak for third consecutive session and corrected towards 9,120. It recovered well from lower levels and formed a Doji candle on the daily chart as closed near to its opening levels. Occurrence of Doji after the recent profit booking indicates that follow up selling is missing and decline is being bought in the market. Now it has to cross and hold above 9,165 to witness an up move towards 9,218 and 9,250
