Chart Check: Should you buy capital goods stocks?
Check out the trading strategies for key frontline stocks across sectors with Kunal Bothra, technical analyst, LKP Securities
Smartinvestor : It has been a weak start for the markets today despite positive global cues. What are the key Nifty levels that you are leeping a tab on? Do you think should should exit completely at the current levels?
Kunal Bothra : Its been a tepid start to the index, but in stocks, the momentum continues to be strong. I think, one should hold on to the long positions, and keep a trailing stop loss of 5800 on Nifty.
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Smartinvestor : Capital goods stocks saw a good up move in yesterday's trade. How should one play this pack? Are there any stocks that you like for a long / short position here?
Kunal Bothra : The sector is building up in its momentum. Yesterday also, the sector was up around 2.5% as compared to a 1% gain in the benchmark Nifty. In this sector, I think LT looks attractive from a trading view. I think if it breaks 1450, then one could look to enter long positions with tgt 1480 and sl 1435.
Smartinvestor : What is your view on the mid-cap space?
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