Does this offers an opportunity to investors to BUY them at lower levels?
Check out the trading strategies for IT and other front line stocks with Mohit Gaba, independent technical analyst and trader.
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Smartinvestor : Are you recommending 'buy on dips' approach to your clients if market corrects?
Mohit Gaba : On a weekly time frame if we trade above 5625 then this down move is complete and we could see a small rally towards 5900 - 5950, hence one can buy on dips but get into front line stock which have liquidity in-case one needs to close positions.
Smartinvestor : Oil & gas counters such as RIL, ONGC has seen massive buying today. Do you have any strategy here?
Mohit Gaba : Both these stocks have seen huge gains and have come off their highs of the day, from a trading point of view it is difficult to enter them at this point as the stop loss would be very big for a trade.
Smartinvestor : On the contrary, IT stocks are under pressure. Would you recommend a BUY on names like Infosys, TCS on lower valuations?
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