Web Exclusive: Should you buy retail sector stocks?

Check out the trading strategies for key stocks with Ravi Nathani, technical analyst, Nsetoday.com

Parliament’s winter session begins today with the Opposition parties demanding a discussion on Foreign Direct Investment (FDI) in multi-brand retail. How should you play the retail sector stocks now?


Smartinvestor : It has been a positive start to the markets today. Do you think that this positive sentiment is here to stay? Where do you see the Nifty headed over the next few sessions?

Ravi Nathani : On charts Index has strong resistance around 5750, whereas stiff support is expected around 5540. Best trading strategy for traders would be buy on dips with a strict stoploss of close below 5540.

Smartinvestor : Can you suggest a few stocks that can be bought on a dip?

Ravi Nathani : Shopper's Stop is a good stock to accumulate at dips as target expected is around 450, stoploss close below 388. CIPLA is also a buy at dips with target expected 425 & 440 stoploss would be close blow 370

Smartinvestor : How should one play the retail space at the current juncture. Do Pantaloon Retail, Trent and Provogue (India) also qualify as a buy on decline besides Shoppers Stop that you mentioned earlier?


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