Check out the trading strategies for key frontline and mid-cap stocks with Navneet Daga, derivative analyst, KR Choksey Securities
Smartinvestor : The markets have started the new week on a flat note. What are the key Nifty levels you are keeping a tab on? Will the Nifty be able to cross and sustain above 6,000 levels?
Navneet Daga : Well currently key levels for nifty support are visible near 5920 and 5850 levels, until nifty sustains above 5850 its great probability that it will try to touch and sustain above 6000 levels in may series. Global set up is very interesting, buying on dips making sense.
Smartinvestor : What does the F&O data indicate regarding the information technology scrips? Do you see a build up of long positions there?
Navneet Daga : IT pack had corrected significantly, now Infy and TCS both are buy the dips stocks, we believe until banks continue to underpeform in that case IT will give markets some comfort to hold on firm ground. Data indicates 2400 levels for Infy in may series.
Smartinvestor : What about metal stocks like NMDC, Sterlite Industries and Tata Steel? These three counters have moved up over 2% today.
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