 "markets, stocks, sensex, nifty, bse, nse")
Nifty outlook and technical calls by Devarsh Vakil & Vinay Rajani - PCG Desk, HDFC securities:
Nifty Outlook
Last week, Nifty formed a double bottom around 9,685 on the daily charts and showed nice pullback thereafter. In last three sessions, Nifty recouped 185 points from the bottom of 9,687. However, short term technical setup is not that convincing and it looks difficult for Nifty to sustain at higher levels. We see Strong resistance in the zone of 9,921-9,950 for Nifty. Aggressive longs should only be taken above 9,950 in Nifty. Any level below 9,685 would resume downtrend in
Nifty Outlook
Last week, Nifty formed a double bottom around 9,685 on the daily charts and showed nice pullback thereafter. In last three sessions, Nifty recouped 185 points from the bottom of 9,687. However, short term technical setup is not that convincing and it looks difficult for Nifty to sustain at higher levels. We see Strong resistance in the zone of 9,921-9,950 for Nifty. Aggressive longs should only be taken above 9,950 in Nifty. Any level below 9,685 would resume downtrend in
