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Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher
NIFTY VIEW
The downslide continues with also the weekly trend being down since 6 weeks in Nifty & Bank Nifty since 7 weeks. Still indicators also show more scope of downside though in between bounce cannot be ruled out. The support for the week is seen at 33350/10000 while resistance is seen at 35100/10550. Bank Nifty would have a range of 24150-25860. Among the Nifty 50 stocks over 90% weightage is on corrective which confirms the weakness.
BUY HINDUSTAN UNILEVER
CMP: Rs 1,578.40
