Chart Check: ABB, Crompton Greaves, Siemens can move up 10%

Check out the latest trends and outlook for key large-and mid-cap stocks with Gaurav Ratnaparkhi, technical analyst, Sharekhan


Smartinvestor : The markets have turned volatile after a steady opening. What are the key Nifty levels that you are keeping a tab on? Can the Nifty slip further from here on?

Gaurav Ratnaparkhi : Nifty is forming a short term pullback rally & can extend till 5980 - 6000 before tumbling down. Key supports are 5935 - 5885

Smartinvestor : Mid-cap information technology stocks have done well in an overall lacklustre market. Do you like anything in this space for a long / short position?

Gaurav Ratnaparkhi : IT stocks have done fairly well recently especially the mid cap stocks. Some of them are still looking good. The one that I like on the long side is Hexaware

Smartinvestor : Can you mention the support and target levels for Hexaware?

Gaurav Ratnaparkhi : Hexaware is trading in an upward sloping channel & within that it has broken out on the upside from a bullish triangle. Key support is at 90, whereas resistance is at 95 & overall the stock can move up till 98

Smartinvestor : What about capital goods stocks like ABB, Crompton Greaves and Siemens? They all have gained over 3% today.

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