Nifty Technical Outlook - Motilal Oswal

- Nifty after witnessing a temporary pullback, has resumed its up-trend which confirms the continuation pattern

- Daily chart of Nifty indicates breakout from a consolidation and immediate support is placed at 5935

- USDINR has confirmed a breakdown form a symmetrical triangle (positive for Nifty)

- Resistance for the index can be seen at 6180 (Bearish engulfing pattern)

- Trailing support for long trades should be placed below the continuation pattern at 5880

- CNX PSU Bank is expected to outperform over Private banks

- Reiterate Buy BOB (Fut), CMP 890, Target 960, Stop Loss 858

Source : Equity Bulls

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