Check out what the technical charts suggest for frontline and mid-cap counters with Ravi Nathani, technical analyst, Nsetoday.com
Smartinvestor : The Nifty has opened higher today after slipping nearly 1% in trade yesterday. Do you expect some profit booking to come in as we inch closer to the RBI's policy review on January 29?
Ravi Nathani : With a stoploss of 5940 (as per closing basis), best trading opportunity would be buy Nifty Index Futures / Option Calls as Nifty has given a strong positive breakout on charts and is expected to rally whereas resistance is expected around 6150 & 6190
Smartinvestor : What's your call on the CNX IT index and HCL Technologies that has rallied post the December quarter result announcement earlier in the day?
Ravi Nathani : CNX IT Index: Near term profit booking could be expected whereas support is expected around 6600 & 6480
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