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Nifty outlook and top trading ideas from Sacchitanand Uttekar, DVP – Technical (Equity), Tradebulls Securities:
Nifty Outlook:
Nifty has trended well post breaking above 10800 & maintained the sequence of higher bottoms well since then. The index formed a ‘Spinning Top’ formation on the daily scale & has been quoting far from its short term averages. Hence a sustained move above the pattern high of 10980 could see a continued run towards 11060/11100 zone. On the flip side a break below the pattern low of 10920 could see a pullback towards 10840-10800 zone. Therefore aggressive longs positions could be considered once
