Chart Check: Sell these five stocks now

The recent economic and global developments have taken a toll on the markets. Check out the trading strategies with Gaurav Ratnaparkhi, technical analyst, Sharekhan


Smartinvestor : The recent economic and global developments have taken a toll on the markets. Do you think we are headed down in the near-to-medium term or is the worst behind us? What are the key trends you are picking up?

Gaurav Ratnaparkhi : Technical observations suggest that we are headed down in the near to medium term. Nifty seems to have completed a pullback at 6133. It retraced 61.8% of the previous fall & from there it has resumed with the larger downtrend. short term targets are 5936 - 5885 with potential to fall to much lower levels

Smartinvestor : How would you play the interest rate sensitive pack now given the Q4 GDP data and the RBI's statements regarding inflation?

Gaurav Ratnaparkhi : Despite of in line GDP data & Inflation figures, the rate sensitive stocks look poised for further decline. 6-8% decline in these stocks looks likely in near term

Smartinvestor : Can you suggest 3 - 5 stocks from the Nifty pack that can be sold given their technical chart patterns?



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