Chart Check: Trading strategies for PSU stocks
Check out the trading strategies for stocks like ONGC, NTPC and BPCL and Coal India with Gaurav Ratnaparkhi, technical analyst, Sharekhan
Smartinvestor : The markets have started the truncated trading week on a positive note. We also have the F&O expiry this week. How do you see the markets panning out in the near-to-medium term?
Gaurav Ratnaparkhi : My sense is that the bounce that we are witnessing would be short lived & can be used as a fresh selling opportunity. Near to medium term trend for Nifty remains down. Targets will be 5550 - 5500. Reversal for the bearish view would be above 5760
Smartinvestor : Can you suggest a few stocks (with targets) from the Nifty pack that are giving a SELL signal basis their chart patterns?
Gaurav Ratnaparkhi : Tata Power: Tgt 92.8 - 90, Tata Motors: Tgt 254, Dr. Reddy: Tgt 1700 - 1650
Smartinvestor : What about the PSU stocks like ONGC, NTPC and BPCL from the Nifty pack. All these counters have gained over 2% today.
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