Web Exclusive: Three mid-cap stocks that you can buy

Check out the trading strategies with Nandish Patel, derivative analyst, Sharekhan.


Smartinvestor : Do you think that the markets will consolidate before making a decisive move on either side? If so, what is the trading range do you expect for the Nifty in the near-to-medium term?

Nandish Patel : Overall bias for the market remain strong, weekly VWAP stands around 5700 level so I think 5700 will act as a very good support for intraday. Yes we may see consolidation taking place for couple of days, but any close above 5750 levels would open gates for 5850-5900 level also. Unless, Nifty is trading above 5700 levels I will prefer going long.

Smartinvestor : Information technology (IT) stocks have done well today with Infosys and TCS gaining ground today. What is your outlook for these two? What about Oracle Financial Services, Financial Technologies and Tech Mahindra?

Nandish Patel : We had seen a good comeback in IT stocks on the back of good open interest addition in future. Today also TCS has added 2.5% shares in OI & 1300 PE has also seen addition so bias for the counter remain positive. Infosys on other hand is facing resistance above 2550 levels. Once this stock manages to surpass 2580 levels it has a potential to touch 2650-2680 levels also. I don’t track any of the other stocks.

Smartinvestor : What is your view on the mid-cap pack? Do you like anything here for a long / short position?

 

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