Top trading ideas by Chandan Taparia of MOSL

Here are a few trading ideas by Chandan Taparia, Derivatives and Technical Analyst & PFA at MOSL:

Outlook

Nifty remained consolidative and witnessed a marginal decline during the day. However, buying interest was seen on decline which took it back above 8,800. Though the daily RSI has been reporting an overbought state, the occurrence of consecutive long wicks reiterates the strength in the 8,720 support. Therefore, the level remains critical for the sequence of higher highs and higher lows on the intraday scale to continue. Only a sustained breach below the 8,720 would indicate loss in momentum and push the