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Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher:
NIFTY VIEW
Nifty has corrected almost 480 points from the peak and is on the verge of retesting the previous low of 11250 which has been the support level as of now. Overall with the sentiment being weak, BankNifty has already breached the previous low and is heading for the 200DMA level which lies at 26100. However, the support for the day is seen at 37070/11220 while the resistance would be at 37500/11330. Bank Nifty would have a range of 26200-26680.
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