Check out the trading strategies for key frontline and mid-cap stocks with Kunal Bothra, technical analyst, LKP Securities
Smartinvestor : The markets have started the day on a quiet note. What are the key support and resistance levels for the Nifty? Do you think that we could slip going ahead in April?
Kunal Bothra : Lackluster day today, and more of a stock specific action today. A/D ratio is so far in favor of advances. 5600 and 5780 could be the range of the market for the next couple of days. I think, that the indices would remain in this range, but many oversold stocks could continue to witness short covering.
Smartinvestor : Are there any pockets of strength emerging in the Nifty pack given the chart patterns?
Kunal Bothra : I think, IT space is probably the only leading sector which is providing strength to the markets. Stocks like, Infosys, Wipro are trading firm. Metals and Auto continue to witness weakness and are probably the laggards dragging the indices. The crucial sector to watch however, is the Banking, most of the stocks there are consolidating. Any positive trigger in these stocks could lend support to the indices.
Smartinvestor : How would you play the pharma pack given yesterday's moves?
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