Softwareexporters are back in the limelight with the Rupee depreciation amid signs of growth recovery in the US, the largest client for Indian technology companies.
With Infosys results just around the corner (July 12), should you cherry-pick some stocks in the IT space?
Check out the trading strategies with Ravi Nathani, technical analyst at NSEToday for Information Technology stocks.
Smartinvestor : Markets have gained momentum after a crash last week. Do you expect this relief rally to continue?
Ravi Nathani : Nifty is range bound on charts (5905-5760) close above/below would add trigger in direction. Best trading strategy would be stay-away however compulsive traders could sell on rise with a strict stoploss of 5905 as per closing basis.
Smartinvestor : How do you expect the volatility panning out as we approach the earnings season?
Ravi Nathani : It would be stock / sector specific as I am bullish on IT / Pharma / FMCG & Pvt. Banks, whereas Bearish strategies for PSU Banks / Metals, Range Bound on Capital Goods & Reality & Auto
Smartinvestor : If Nifty slips 30-40 points intra-day, would you recommend buying on dips then ?
Ravi Nathani : No, it would not be a great idea as it is trading in a range.
Smartinvestor : We have Infosys results this Friday. what is your strategy here and any other front-line IT stocks that you recommend?
