HT Media, NDTV and Jagran Prakashan have seen a good run-up recently. ACC, Hero MotoCorp and Bajaj Auto have reacted to their September sales figures. Check out the trading strategies with Mudit Goyal, technical analyst, SMC Global.
Smartinvestor : The markets have been trading in a narrow range since quite some time now. What are the key Nifty (cash segment) levels that you are keeping a tab on?
Mudit Goyal : Nifty is consolidating in stiff range since beginning of October Series. Technically, consolidation in narrow range after decent rally is always a healthy sign and signifies the underlying strength of uptrend. Buying interest may remains continue for Nifty pack so one should more focus on frontline stocks. Nifty may face hurdle around 5800-5840 and on the other side, likely to seek support around 5625-5580 for near term.
Smartinvestor : What about TTK Prestige, Tata Global Beverages and Jain Irrigation?
Mudit Goyal : At current juncture, one can take long position for JAIN IRRIGATION and TATA GLOBAL for the target of 12-15% from current levels. High risk investor can consider long for TTK PRESTIGE.
Click here for the full transcript