The markets are trading on a weak note in trades today. Find out stocks that you can bet on in a weak market with Kunal Bothra, Technical Analyst, LKP Securities.
Smartinvestor : The markets have opened lower are trading on a weak note. What are the levels on the Nifty to watch out for? Where are we headed next on the charts?
Kunal Bothra : The markets are bouncing from their 100 DMA. 5950 is a crucial support for Nifty, from where it took a bounce in January as well. However, due to lack of any local triggers, the global markets would hold the key for the next week or so. Any further weakness in those markets and our markets may follow suit.
Smartinvestor : BHEL has been facing the heat of selling pressure post the Q3 result announcement. What is your view on this stock?
Kunal Bothra : 220 level on BHEL was a very crucial support. We had been bearish on the stock since the last couple of months, and believe that the stock can further drift.
Smartinvestor : Which stocks from the heavyweight space are looking attractive for a short term trading horizon?
Smartinvestor : The broader market have been underperforming the benchmark indices. How do you see the mid-caps and small-caps panning out in the near term?
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