Check out the trading strategies for a whole host of stocks with Kunal Bothra, technical analyst, LKP Securities
Smartinvestor : The markets have been on a roll with the Nifty hitting 6,000 a few sessions ago and the Sensex breaching the 20,000 mark today morning. What are the key levels you are keeping a tab on and what are you advising your clients?
Kunal Bothra : Yes, its a been a thrilling last few sessions in terms of volatility in the index as well as in many frontline stocks. I think, for Nifty 6060 will be a crucial resistance. I believe, if that resistance is taken out, we could be cruising towards the 6200 level. Whereas the band of 5940-5960 (all Spot levels) have provided a crucial support.
Smartinvestor : Is it a good time to book profit in the information technology pack now given the run-up seen since the past few sessions?
Kunal Bothra : Yes, specifically good time to book some profits in Infosys from a short term view. However, I think one should continue to hold it from a medium term perspective for targets of close to 3000 levels.
Smartinvestor : The BSE Mid-cap index has been outperforming the benchmark indices. Do you like anything in this space for a long / short position?
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