Capital goods stocks rose for the third straight day after the government announced reduction in excise duty on some capital goods to 10% from 12% in the interim budget. BSE Capital Goods index is up over 1%.
Check out the trading strategies in Nifty, capital shares, IT shares and top picks from Midcap segment with Devangshu Datta, Technical Analyst.
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SmartInvestor: Markets are trading in a narrow range with positive bias after the rally yesterday which pushed the benchmark indices to 3-week closing highs. What is your advice for investors to trade in Nifty?
Devangshu Datta: Keep a stop loss at 6175 if you are short, keep a stop loss at 6090 if you are long. Could be volatile in last hour.
Smart Investor: Capital goods stocks rose for the third straight day after the government announced reduction in excise duty on some capital goods to 10% from 12% in the interim budget. What is your view on this segment and your top picks here?
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