Remain long in Nifty with stop loss of 10,700: HDFC Securities

Nifty outlook and technical calls by Vinay Rajani, Technical Analyst, HDFC Securities:

Nifty Outlook

Nifty has closed exactly at the resistance of the downward sloping trend line, adjoining the daily highs of 29th Jan 2018(11,171) and 15th May 2018(10,929). However, the Technical indicators and Oscillators setup on the Index charts indicates the higher probability of bullish move from here in the Nifty.  Any level above 10,865 could extend the upward rally towards next resistances of 10,905 and 11,020. On the downside 10,700 is the key support for the Nifty.

BUY TATA ELXSI

CMP: Rs 1,278

Stop Loss: Rs 1,225

Target: Rs 1,370

Stock has registered new all-time