SmartInvestor : Mudit, Nifty is struggling with 6000 and markets have closed weak for almost 6 sessions now. Will we see a recovery? What are the levels to watch?
Mudit Goyal : Technically, Nifty has breached the important support level of 6030 during yesterday trade, which was the 50% Fibonacci retracement levels of recent upside move from 5700 to 6340 levels and closed below the same. This indicates that weakness may continue for coming days and can find support around 5950 in near term.
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SmartInvestor : SBI, Sun Pharma, Coal India, Mahindra & Mahindra and Tata Steel have results today. Your outlook on these counters?
Mudit Goyal : All stocks are looking good on charts except SBIN. One can bet on SUNPHARMA, COALINDIA, M&M and TATASTEEL for near term. Avoid SBIN at current levels.
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