Tips for trade: Auto stocks
Auto stocks have been witnessing buying find out the stocks one can buy from this space
Auto stocks have been witnessing buying since past few trading sessions and have outperformed the benchmark index. Find out the stocks from the auto pack you can buy for a short term perspective for smart gains with Ravi Nathani, Technical analyst, Nsetoday.com.
Smartinvestor : The markets are trading on a flat note ahead of the outcome of Gujarat and Himachal Pradesh elections. What are the important levels for the Nifty to watch out for? Where are we headed on charts in the near term?
Ravi Nathani : Near term strong resistance is expected around at 5965, trade above this level would see 6040, whereas support is expected around 5838. Traders strategy would be buy on dips with a stoploss of close below 5838 as trend on charts is bullish.
Smartinvestor : Healthcare and FMCg stocks are trading higher in trades today. What is your outlook on HUL, Sun Pharma, ITC and Cipla?
Ravi Nathani : Pharma Pack - SUNPHARMA is a buy on dips with a target expected 790 as trend on charts is bullish for long term also, whereas CIPLA close above 430 would add fresh buying trigger with a target of 450-465. FMCG HUL & ITC is range bound on charts ITC (302 - 288) & HUL (513 - 531) trade above/below would add trigger in the direction.
Smartinvestor : What is your view on the auto stocks? Can you recommend some stocks that one can buy from this space for a short term perspective?
Click here to read the full transcript