Benchmark indices continue to trade lower weighed down by Asian shares along with IT and auto shares leading the fall.
At 11:20 AM, the 30-share Sensex was down 120 points at 20,745 and the Nifty slipped 36 points at 6,166.
Somil Mehta, Sr Technical Analyst (Equity) from Sharekhan told Manu Kaushik his strategy to trade ACC and Hero Motocorp today.
SmartInvestor : In what direction market is likely to move in after consolidation seen this week? What are the key levels to watch out today
Somil Mehta : Short term and medium term out look is positive expected to move up till 6350 and support would be around 6030
SmartInvestor : IT is again under pressure today. Do charts indicate a bearish trend? Till how long is profit booking likely to continue. What are your top trading strategies from the pack
Somil Mehta : IT in the short term looks weak but the strategy should be to buy on decline my yop pick would be Tech mah @ 1539 sl 1480 trt 1700
SmartInvestor : How are you trading Cairn India, Wipro, ING Vysya today. All three declared Q2 results yesterday ?
Somil Mehta : All three are expected to be range bound so the strategy should be to avoid these stocks.
SmartInvestor : How should one trade ACC and Hero Motocorp today?
