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Nifty outlook and few trading ideas by Sacchitanand Uttekar, Asst.Vice President - Research Technicals (Equity), Tradebulls Securities:
Nifty Outlook:
Nifty continues to remain vulnerable towards global volatility as it continues to drift lower post its weak start for the month. On the daily scale its proximity near its 200 DEMA alongwith its corresponding RSI value near the oversold zone warrants caution for fresh shorts. Historical evidence since august 2017 indicates that the RSI has also seen corresponding swings near to 35-33 zone & its current placement too compliments the bullish setup. Hence any loss of momentum in the
Nifty Outlook:
Nifty continues to remain vulnerable towards global volatility as it continues to drift lower post its weak start for the month. On the daily scale its proximity near its 200 DEMA alongwith its corresponding RSI value near the oversold zone warrants caution for fresh shorts. Historical evidence since august 2017 indicates that the RSI has also seen corresponding swings near to 35-33 zone & its current placement too compliments the bullish setup. Hence any loss of momentum in the
