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Nifty outlook and top trading ideas by Sacchitanand Uttekar, DVP - Technical (Equity), Tradebulls Securities:
Nifty outlook
Nifty outlook
The month began with the index forming an Engulfing Bearish formation on the weekly scale and saw a decline of almost 4 per cent from the top around 11,760. It now seems to be approaching its immediate support zone near 11,146 (20 Weeks EMA) with the 60 min RSI displaying a positive divergence. Though the formation needs confirmation of a positive price action in terms of a candlestick reversal pattern which is yet not evident. With the broader structure looking weak, any respite
