Buy or Sell | Nifty likely to trend lower; buy Federal Bank

Nifty has now entered into a short term downtrend. Technical indicators too are giving negative signals as the Nifty trades below the 13-day SMA and the 14-day RSI is in decline mode. We expect Nifty to trend lower towards the support of 11,311 in the near term, says Subash Gangadharan, Technical Analyst HDFC Securities.