Top trading ideas by Tradebulls Securities: Sell ITC, buy HPCL

Nifty outlook and top trading ideas from Sacchitanand Uttekar, DVP – Technical (Equity), Tradebulls Securities:

Nifty Outlook:

Nifty continues its drift towards its 200 DEMA placed around 10800. The occurrence of multiple hammers displaying stability would be considered void once the index breaches below 10780. The patterns require a confirmatory close above 11040 for any pullback move to mature towards 11220. On the other hand, the fresh breakout in INDIA VIX indicates an upward shift in range & could see a movement towards the upper bound placed around 20.50-22 soon. As the broader trend remains weak slippages below 10800 could be impulsive