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Nifty might face resistance around 9700; 5 stocks which could give up to 15% upside

A much-needed correction phase has taken place during the weeks trading session. Despite closing on the positive bias on Friday's trading to close at 9,588, Nifty is expected to witness sideways movement during the next phase. The relative strength index (RSI) on the daily chart stood at 56.1 while the MACD is seen at 59.1, which is below the Signal-Line of 76.6, thus forming a mixed trading outlook. On the basis of SMA, Nifty is trading above its 20-days EMA. Further, a strong support level is seen at 9,555 while the resistance will be tested at 9,709 level.

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