Check out the strategies with Kunal Bothra, technical analyst, LKP Securities
Smartinvestor : It has been a quiet start for the markets today. Do you think that the Nifty can slip from here?
Kunal Bothra : I think, intraday we may continue to see Volatility, however, I think as of now the uptrend for the market is intact. The support for Nifty has shifted to 5980-6000 levels for the short term.
Smartinvestor : Can you suggest three stocks from the Nifty pack that can be bought at the current levels given their chart patterns?
Kunal Bothra : ACC, is the first pick. We can witness an RSI divergence happening in the hourly charts indicating that the stock could trend towards 1390 levels with support at previous low of 1320 (200 DMA level ).
Kunal Bothra : L&T is the second pick. A similar RSI divergence along with a sort of double bottom in the hourly charts indicate that the break of 1560 level could trigger a rally till 1620 levels. Keep a strict stop of 1538 levels.
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