Trading Strategies: Hindalco, Tech Mahindra, DLF

Check out the trading strategies for buzzing stocks of the day with Ravi Nathani, technical analyst, Nsetoday.com


Smartinvestor : It has been a quiet start to the day. How do you see the markets panning out from hereon? Do you expect them to drift lower in the remaining part of March?

Ravi Nathani : Yes I look a bearish market for short term, whereas with a resistance / stoploss of 5870 as per closing basis Nifty is expected to drift lower whereas support is expected around 5700.

Smartinvestor : What's happening to metals? Stocks like Jindal Stel & Power, Hindalco, Sail...

Ravi Nathani : Post sharp dip majority of Metal stocks are expected to consolidate / range bound for atleast 5-7 trading sessions whereas Jindalstel range is (367 - 339) / HINDALCO (104- 93) & SAIL (73-67) close above/below the range would add trigger in the direction. I would like to highlight all these stocks are bearish on charts for medium term therefore any rise / rally in near term would attract selling pressure....

Smartinvestor : What are the key support and resistance levels for the CNX IT? What about Wipro, Tech Mahindra, OFSS and Infosys? How do these stack up on the technical parameters?

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