Nifty outlook and top trading ideas by Prabhudas Lilladher

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

NIFTY VIEW

Nifty and Bank Nifty have all of their periodicities down, implying weakness in the market. Sectorwise, it is still the IT stocks which are relatively placed well and Reliance Industries (RIL) shows some strength on up move. The support for the week is seen at 35,230/10,540 for Sensex and Nifty, respectively while resistance is seen at 36,400/10,920. Bank Nifty would have a range of 26,200-27,420. Market continues to be very choppy with a corrective bias. Hence, our view is cautious and corrective. Nifty