Nifty outlook and three trading ideas by Chandan Taparia of MOSL

Outlook

Nifty index managed to hold 8,800 zone and witnessed sustain buying interest till the end of session. It continued its higher top-higher bottom formation and respecting its major support trend line by connecting the bottoms of 7,893 and 8,327. It formed a Bullish candle on daily chart and supports are shifting higher from 8,720 to 8,800. Until it holds above 8,820 zone, this rally may extend towards 8,968 and 9,000 while on the downside multiple supports are seen near to 8,820 and 8,750. Commodity Trading Tips