Check out the technical trends in select mid-cap stocks such as Infosys, ITC, Cipla, Bharti Airtel and NTPC with Ranak Merchant, Technical Analyst (Strategies) at Sushil Finance
Smartinvestor : ITC is among the top Sensex gainers today. The stock has corrected from Rs 305-306 levels. Is the stock likely to resume its uptrend and what are the near term targets for the stock?
Ranak Merchant : ITC appears to have found some support near 278 post the corrective fall. 289 is a likely resistance for the stock, the level being an important average. With index in consolidation FMCG may attract interest in the extreme short term, but a runaway move not expected in the counter.
Smartinvestor : Software major which has been range bound between Rs2,300 and 2,375 is witnessing correction after recent gains ahead of its third quarter earnings later this week. What are the near term supports for the stock?
Ranak Merchant : Infy has gained the reputation of being an extreme volatile stock on results day. The upward bounce of the stock from lows of near 2250 are experiencing exhaution near 2445 levels, thus marking it as a broader range for the stock. Supports continue to be near the 2200-2250 mark.