Check out the trading strategies for buzzing stocks of the day with Ravi Nathani, technical analyst, Nsetoday.com
Smartinvestor : The markets have started the day on a flat note. What are the key Nifty levels you are keeping a tab on? Can the markets sustain at these levels?
Ravi Nathani : Strong resistance is expected around 6096 to 6112 range, close above this range would attract fresh round of buying in near term charts. Best trading strategy would be buy on dips as trend is up in near term whereas stoploss would be close below 5980.
Smartinvestor : HDFC, Lupin, Glenmark Pharma and Ranbaxy announced their March quarter results recently. How do they stack up on the technical parameters?
Ravi Nathani : HDFC is a buy on dips whereas target expected in short term is 925-940. Lupin sharp rally in near term would attract profit booking on rise whereas support is expected around 700. Ranbaxy range bound on chats (435 - 460) trade above/below would add trigger in the direction.
Smartinvestor : Do you like anything in the mid-cap pack for a long / short position?
Ravi Nathani : Jain Irrigation is a sell with a target expected 64.
Smartinvestor : How should one play the metals and the banking packs? Are there any stocks in these two spaces that can be bought at the current levels given their chart patterns?
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