SmartInvestor: Markets are trading higher with Sensex and Nifty hovering around 21,100 mark and 6,250 levels, respectively ahead of Q3 GDP data. What are the levels to watch out on key benchmark indices and your advice to traders?
Ranak Merchant: This week saw benchmark Nifty scale above a short term double top of 6160 and monthly breakout point of 6194 on closing basis. While some profit taking took the index below the said level post breakout, a truncated week coupled with F&0 expiry brought cheer back to markets on short covering and some FII buying.
More From This Section
Ranak Merchant: From current levels the next target zone would be near 6356 (Multiple Top Resistance zone). As we head towards the end of the financial year and nearer to elections, some profit taking would be advised to traders near the targeted zone.
SmartInvestor: Maruti Suzuki has dipped 5% after clarification on Gujarat project. What is the medium term outlook for the stock and what is your advice to investors on the stock at current levels?
Click here for full transcript