Nifty Outlook and few trading ideas by Chandan Taparia of MOSL

Nifty Outlook:

 
Nifty index surpassed its previous life time high of 9,709 and registered a new record high of 9,782. It formed a strong Bullish candle on the Daily chart and given the breakout from its right angle triangle pattern. Index closed with the decent gains of more than 100 points even after the technical issue at NSE platform. Now it has to continue to hold above 9,700 zones to extend its up move towards 9,850 and higher levels while on the downside supports are seen at 9,650 mark. Index continued its formation of higher lows for sixth consecutive sessions and till this formation doesn’t negate market is likely to cherish the bullish sentiment. Commodity Trading Tips