Don’t miss the latest developments in business and finance.

Trading Idea: Will IT stocks be a safe bet now?

Check out the trading strategies for IT and other front line stocks with Mohit Gaba, independent technical analyst and trader.

Image
Aastha Agnihotri Mumbai
Last Updated : Jun 28 2013 | 10:48 AM IST
Software makers such as Tata Consultany Services, Infosys among others have fallen nearly 1 per cent in an otherwise firm equity market.

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.

More From This Section

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?


Click here for the complete transcript...

Also Read

First Published: Jun 28 2013 | 10:41 AM IST

Next Story