Check out the technical trends and strategies for select index stocks such as Infosys, Tata Motors, Cipla and Bajaj Auto with Somil Mehta, Sr Technical Analyst (Equities) at Sharekhan:
Smartinvestor : Markets have finally witnessed correction after sharp gains recently. The Nifty continues to trade above 6,000 levels. What are the supports and resistances for the benchmark index and trading strategy for the rest of the week?
Somil Mehta : The strategy should be to sell on rise for target of 5850 with reversal around 6100. key support would be around 5950/ 5850 and resistance would be around 6070/6100
Smartinvestor : Infosys is marginally down on profit taking after sharp gains post its third quarter earnings. Is the stock likely to witness further correction and what are the near term supports for the software major.
Somil Mehta : The stock is expected to correct in the short term, key support would be around 2660/2525 and resistance would be around 2800/2875
