Smartinvestor : The markets have opened on a positive note. Will the uptrend sustain, or would you call it a dead cat bounce?
Kunal Bothra : The early signs so far indicate that it could be short covering, but I think, if the broader participation increases, the intensity might increase. Also remember, that even the dead cat bounces are very sharp ones and retrace in very short span of time.
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Smartinvestor : Are there any stocks in the Nifty pack that are giving a clear SELL signal as per chart patterns?
Kunal Bothra : As of now, Asian paints and Infosys are giving a decent sell signals as per chart patterns. Asian paint has closed below the 50 DMA, and is continuing to grind lower. Infosys on the other hand is forming a double top formation and has broken below the support line, indicating that the stock could head lower in the next couple of days before the announcement of the result.
Smartinvestor : Mid-cap stocks like Punj Lloyd, Havells India and Alstom T&D have gained over 2% today. How do they stack up on the technical parameters?
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