Check out the technical trends for select large cap stocks such as ITC, Bharti Airtel, Infosys, NTPC and Cipla with Somil Mehta, Sr technical analyst at Sharekhan:
Smartinvestor : Markets continue to remain firm since early trades tracking global cues. However, profit taking at higher levels is capping gains. What are the charts indicating for the Nifty and what strategy should traders deploy ahead of the F&O expiry tomorrow?
Somil Mehta : The market outlook for both the short term and medium term remains negative. For traders the strategy should be to sell on every rise. Key support for the benchmark Nifty is 5480/5200 and resistance for the index is 5700/5800.
Smartinvestor : Despite the sharp fall recently FMCG major ITC has shown resilience. What are the charts indicating and what is the medium term outlook and the supports, resistances for the stock?
Somil Mehta : ITC continues to remain resilient despite the overall sluggishness. Short term and medium term out look for the FMCG major remains positive. One can accumulate the stock on decline. Key support for the stock are seen 300/285 and resistance for the stock is seen around 340/375.
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