ITC can touch Rs 304: Salil Sharma

Salil Sharma, technical analyst, partner Kapursharma.com suggests stocks to buy and sell based on technical chart patterns

Markets have been in a consolidation phase since quite some time. Here are a few stocks that you can buy from a short term perspective.

Smartinvestor : Markets have been in a consolidation phase since quite a long time now. What are the important levels to watch out for? Where are we headed next in the near term?

Salil Sharma : On the downside Nifty has an important support at 5,620. This is a critical level to watch out for if that breaks then it can down to 5,530 levels.

While, on the upside resistance is at 5,755 and if that breaks on the upside then Nifty may move up to 5,825 levels. For the settlement we will remain in a consolidation phase. Broader range for the Nifty for the settlement would be 5,600-5,800. If there is a rate cut then we may move to a higher trajectory.

Smartinvestor : ITC and TCS are likely to announce their results today. How should one trade these stocks given this event?


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