 "Technical calls from MOSL: Buy Arvind and ONGC")
Here are a few trading ideas by Sacchitanand Uttekar, Equity Technical Analyst & PFA at Motilal Oswal Securities:
Nifty Outlook
Despite of registering a faster retraced up move the index witnessed a ‘Doji’ formation on the weekly scale. The index has managed to maintain its bullish sequence but a consistent close above 8310 (High of the Weekly Doji) would reinstate the bullish momentum. On the flip side only a breach below 8130 (Low of Weekly Spinning Top) would negate the setup & remains a vital stop for trading longs.
ARVIND
Reco: BUY
Last Close: 359.50
Target: 390
Nifty Outlook
Despite of registering a faster retraced up move the index witnessed a ‘Doji’ formation on the weekly scale. The index has managed to maintain its bullish sequence but a consistent close above 8310 (High of the Weekly Doji) would reinstate the bullish momentum. On the flip side only a breach below 8130 (Low of Weekly Spinning Top) would negate the setup & remains a vital stop for trading longs.
ARVIND
Reco: BUY
Last Close: 359.50
Target: 390
