Street signs: 'Buy the dip' say chartists, rising free-float trade and more

‘Buy the dip’ say chartists

The commentary by technical analysts has moved from ‘sell on rallies’ to ‘buy the dips’, with most expecting the bullish momentum, seen over the past three weeks, to sustain. The benchmark Nifty has rallied 15 per cent from 8,823 on May 18 to 10,142 on June 5. “Technically, the Nifty is heading for the levels of 10,300 and 10,500, if it crosses 10,180. Until then, the Nifty may consolidate between 10,180 and 9,850. The strategy should be to buy the dips,” says Shrikant Chouhan, executive vice president, equity technical research, Kotak Securities.

Samie Modak

Gold finance