Check out the technical trends for select index stocks such as Wipro, SBI and Bajaj Auto with Kunal Bothra, technical analyst at LKP Securities:
Smartinvestor : Markets have remained firm since early trades led by index heavweights. What is your call on the markets ahead of the July F&O expiry on Thursday?
Kunal Bothra : Markets are showing good strength at these levels. I think an expiry above 6100 is very likely looking at the current scenario for the markets. We are advising traders to hold on to their long positions with a trailing stop loss at 5980 on Nifty spot levels.
Smartinvestor : Software major Wipro has been in an uptrend since early June from Rs 330-340 levels. Is the uptrend in the stock intact? What is your call on the stock for the medium term?
Kunal Bothra : Its been a slow and steady rise for Wipro. Technically this is a good sign for the stock and the medium to long term view for the stock seems to be bullish. It has already crossed the 200 DMA which is a good sign for the stock. I think that above the psychological break of 400, stock could see some spurt in momentum towards 440 levels.
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