 "Markets, Buy, Sell, Stocks, Shares")
Nifty outlook and top trading ideas from Sacchitanand Uttekar, DVP - Technical (Equity), Tradebulls Securities.
The index was unable to breach above its 200 DEMA placed at 10750 levels post bullish hammer candle formation in the previous session. Daily RSI breached below its significant support line and is trading below 50 levels indicates weakness ahead till 10500 levels. With the appearance of a large downside candle post-breach of narrowing pattern on the downside; close beyond 200 DEMA is a requisite for further upside that might test the earlier pattern resistance placed at 10840. A cautious approach is necessary as
The index was unable to breach above its 200 DEMA placed at 10750 levels post bullish hammer candle formation in the previous session. Daily RSI breached below its significant support line and is trading below 50 levels indicates weakness ahead till 10500 levels. With the appearance of a large downside candle post-breach of narrowing pattern on the downside; close beyond 200 DEMA is a requisite for further upside that might test the earlier pattern resistance placed at 10840. A cautious approach is necessary as
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