 "Top trading calls by Sacchitanand Uttekar of Motilal Oswal Securities")
Here are a few trading ideas by Sacchitanand Uttekar, Equity Technical Analyst & PFA at Motilal Oswal Securities:
Nifty Outlook
Nifty continued its up move for the 13th consecutive session as it closed above 8,400. Though on the daily scale there are no signs of weakness but on the intraday 30 min scale the developing negative divergence on the RSI warrants caution. The index could witness termination near the likely resistance zone of 8,400-8,450 & witness a corrective wave. Hence we recommend to reduce leveraged longs & deploy adequate hedge for a while.
VOLTAS
Reco: SELL
Last
Nifty Outlook
Nifty continued its up move for the 13th consecutive session as it closed above 8,400. Though on the daily scale there are no signs of weakness but on the intraday 30 min scale the developing negative divergence on the RSI warrants caution. The index could witness termination near the likely resistance zone of 8,400-8,450 & witness a corrective wave. Hence we recommend to reduce leveraged longs & deploy adequate hedge for a while.
VOLTAS
Reco: SELL
Last
