Given the prevailing negative sentiment, the trend in benchmark indices is expected to favour bears in the upcoming sessions. Below are some trading ideas for the near term.
In case, the Nifty50 gets broken down the support 19,480, the low of previous week, 19,300 (the low of October month) is likely get tested in coming sessions, experts said.
We expect their outperformance to continue for the coming weeks.
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Occurrence of a ‘Bullish Hammer’ on weekly scale near the confluence zone of a multi support area of its 200 week EMA reconfirm the strength of its ongoing channel support zone in Zensar Technologies. Trend strength indicator RSI too exhibits a positive crossover along with a likely trend break