Check out the recommendations and strategies of Devangshu Datta, Technical Analyst.
SmartInvestor: Indices have edged higher in trades today led by IT and financials. What is your advice for investors to trade in Nifty which is trading above 6,300 mark?
Devangshu Datta: Hitting resistance above 6375 (futures price) and support at 6350. Breakouts / breakdowns from this very narrow range could go till 6400 or till 6325.
Devangshu Datta: Overall trend is positive (good advance-declines ratio) so an upside move is more likely. Advice is to wait for a breakout/ breakdown.
SmartInvestor: The banking stocks are doing well in today's session. What's your view on Bank Nifty?
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