Both these stocks have logged smart gains today. Should you stay invested? Check out the trading strategies with Mudit Goyal, technical analyst, SMC Global.
Smartinvestor : The mid-cap indices have outperformed their larger peers in trade today. Is this likely to continue in the days ahead? What are the key Nifty levels that you are keeping a tab on?
Mudit Goyal : Range bound and volatile sessions is continued in the markets from past few days and currently it is trading in indecision points. Technically, RSI is on down trend along with bearish divergence in MACD that suggests it would remain under pressure till the time it is trading below 30DEMA at 5,680.
Mudit Goyal : In a nutshell, short term bias remains negative till nifty close above 5680 which would act as near term resistance mark. Key Support would be around 5580-5550; any breakdown may attract fresh selling and may open the door for further downside till 5450. Mid cap can be the outperformer for near term.
Smartinvestor : SpiceJet and Jet Airways have gained considerable ground in today's session. How should one play these two stocks? Is it a good time to exit these counters, or do you expect them to rally further?
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