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Nifty outlook and top technical calls from Sacchitanand Uttekar, AVP – Technical (Equity) at Tradebulls Securities:
Nifty Outlook
On the daily scale the occurrence of an ‘Engulfing Bearish’ formation at the upper end of the range re-affirms the likely oscillation within the broad range of 10,000-9,700 to continue. Traders should resort to mean reversion strategy & look for bearish signs at the upper end of the range. Based on the time tools the ongoing consolidation is about to terminate in the coming week as the evidence in hand suggests the next probable potential reversal zone signal could occur
Nifty Outlook
On the daily scale the occurrence of an ‘Engulfing Bearish’ formation at the upper end of the range re-affirms the likely oscillation within the broad range of 10,000-9,700 to continue. Traders should resort to mean reversion strategy & look for bearish signs at the upper end of the range. Based on the time tools the ongoing consolidation is about to terminate in the coming week as the evidence in hand suggests the next probable potential reversal zone signal could occur
