Check out the trends and strategies for select mid-cap stocks such as Delta Corp, eClerx, Sintex Ind, Rajesh Exports and Biocon with technical analyst Devangshu Datta:
Smartinvestor : Markets seems to have pared most of the early gains and are trading flat in noon trades. The Nifty seems to find support at 5,500 levels. What is your advice to traders for the rest of the trading session?
Devangshu Datta : Market is marginally bullish. Nifty could rise till 5535-5550. Assume a futures premium of 10-15. If you go long, keep a stop loss at around 5500. If the market goes weak again, and drops below 5490, it could slide till 5450.
Smartinvestor : Delta Corp has been firming up after touching a low of Rs 39 on March 22 on the BSE. The stock is the top mid-cap gainer with good volumes. What is the medium term outlook on the stock and what are the resistances and targets for the stock?
Devangshu Datta : Supports for Delta Corp are seen at 57, 59. Trend for the stock seems to be strongly positive . Lots of resistance between 62-64, next resistance is seen at 66-67. Massive resistance at 70-plus.
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