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Technical check on the markets
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Ravi Nathani
Technical analyst, Nsetoday.comDate : 28 Jun 12 | 10:00 AM |
| Smartinvestor : Hi, this is Puneet Wadhwa and we have Ravi Nathani, technical analyst, Nsetoday.com back with us for the Talk Show today morning |
| Smartinvestor : Good morning Ravi and welcome back |
| Smartinvestor : The Nifty is testing the 5,150 mark ahead of the F&O expiry for the June series today. How do you see the markets panning out in July? What are the key levels you are keeping a tab on? |
| Ravi Nathani : Hi Good Morning - Markets are expected to be in a range whereas 5350 - 4900. |
| Smartinvestor : Are there any stocks from the Nifty pack that you would like to recommend at this stage? |
| Ravi Nathani : I am bullish on two sectors Pharma & Banking whereas best buy would be SUNPHARMA & HDFCBANK & KOTAKBANK |
| Smartinvestor : Can you suggest key levels for eahc of these stocks please |
| Ravi Nathani : SUNPHARMA target is 650 HDFCBANK - 580 & Kotak Bank 600 |
| Smartinvestor : What about Siemens and L&T in the capital goods pack. They both are among the top gainers in the BSE Capital Goods index. |
| Ravi Nathani : LT trend is up whereas target / resistance is expected at 1440 & Siemens is also a buy with a closing stoploss of 694 target expected is short term is 750 |
| Smartinvestor : Axis Bank and YES Bank are reacting to news flow today. How do these stocks look on the technical parameters? |
| Ravi Nathani : AXISBANK has strong support at 980 close below this level would open doors for 945, Yesbank on charts is range bound 318 - 346 trade and close above / below would add trigger in the direction. |
| Smartinvestor : What are the key support and resistance levels for the CNX IT? Do you like anything in the mid-cap IT space for a long / short position? |
| Ravi Nathani : IT Index is trading range bound on charts whereas the range is (5910 - 6060) close above or below would add trigger in the direction. I am bullish on MINDTREE & HEXAWARE from the MIDCAP Stocks. |
| Smartinvestor : Most power sector stocks had run up in trade yesterday. Would you recommend a sell in any of the frontline stocks based on technical chart patterns? |
| Ravi Nathani : No - Power stocks seems to near bottom; best trading strategy would be buy on dips whereas best stock to buy from power sector would be POWERGRID as in short & medium term stock has given a positive breakout on charts whereas resistance is expected at 115 & 118 |
| Smartinvestor : Thanks, Ravi for your time and advice. Please give us your disclosures (if any) |
| Ravi Nathani : I don't have investment exposure in any of the stocks discussed today..... |
| Ravi Nathani : Bye & Have a Nice Day.... |
| Ravi Nathani has logged out at 28-Jun-2012 10:27:41 am |
| Smartinvestor has logged out at 28-Jun-2012 10:29:02 am |
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