Nifty outlook and top trading ideas by Jay Anand Thakkar of Anand Rathi

The Nifty has provided a sell crossover on its hourly charts and with that, the index seems to have reversed the overall trend in the short term.

NIFTY: SELL | TGT: 11,990 | SL: 12,350

The Nifty closed deep in the negative territory on Tuesday and, as anticipated, has reversed well from the upper end of the rising wedge pattern, which is also a negative sign in the short term. The index has also provided a sell crossover on its hourly charts and with that, the index seems to have reversed the overall trend in the short term.

TECHM: SELL | TGT: Rs 730 | SL: Rs 797

The stock has formed a rising wedge pattern which is a bearish reversal pattern. The hourly as well as daily momentum indicator