Nifty outlook and top trading ideas by Prabhudas Lilladher

Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher

NIFTY VIEW

Nifty has closed below the 10,800 level breaking all significant moving averages indicating a downslide as Bank Nifty too has closed below 27,000 decisively, breaking 50-day moving average (DMA). The support for the day is seen at 35,730/10,710, while resistance is seen at 36,320/10,850 levels. Bank Nifty would have a range of 26,560-27,180. Mid Cap sector, too, was in the red; so for now IT sector still sustains in green. Moreover, Reliance Industries (RIL), etc have stepped down from their highs. View is