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Check out the stocks you can buy and sell at the current levels with Shubham Agarwal, head - technical equities and associate vice- president, Motilal Oswal Securities
Smartinvestor : The markets have nudged higher after a nervous start. Do you see the trend continuing or should one use the upside to exit?
Shubham Agarwal : I recommend to take this as an exit opportunity. Based on the technical studies, we see a cap on Nifty around 5760 and the lower end of the band is placed at 5300. So, the reward to risk does not favor longs.
Smartinvestor : Banking stocks were in limelight yesterday and select counters have logged gains even in today's session. Are there any stocks that can be SOLD at the current levels?
Shubham Agarwal : Yes, some of the mid cap banks like Allahabad bank, IDBI & Andhra Banks are showing signs of exhaustion. For large caps there is still a possibility that Bank nifty might see continuation of a temporary pullback which could last around 10200. Investors should take this as an opportunity to exit financials from the portfolio. The concerns of rising interest rates globally will remains and in a medium term this can push bank nifty towards 7800
Smartinvestor : What's your view on capital goods counters like Bhel, L&T, Thermax and Crompton Greaves?
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