SmartInvestor: Markets have gained ground today with the Nifty index trading above the 6,700 levels. What is your advice to traders for the benchmark index for the rest of the trading session? What levels are to be watched out?
Ranak Merchant: Levels to be watched out for the benchmark Nifty would be 6845 on closing basis as next breakout point while a sustained close below 6690 would be indicative of a breakdown.
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Ranak Merchant: The last 4-5 weeks have seen resistance and support emerging near these levels.
SmartInvestor: FMCG major ITC is the top Sensex gainer, up nearly 2%. How does the stock measure up on the technical parameters?
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