Nifty outlook and top trading ideas by HDFC Securities

Nifty has got strong support of its 200 DMA, which is currently placed at 10,000 odd levels, while resistance is placed at 10,700

Nifty View: In last 7 sessions, Nifty has seen a total fall of 900 odd points, which 8% from the all-time high of 11,171 to 10,276. Technical setup for all global markets turned bearish in the last 7 sessions. Bearish momentum has gone up significantly with volatility Index, VIX reaching almost at 1 year high. Mid-cap and Small-cap indices have already seen a plunge of 14% and 19% respectively from their 1 month high. There are many large-cap stocks which have seen a healthy correction of more than 30% from the 3 month’s highs. So, at these levels, we should not