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Check out the shopping list and technical strategies of Ranak Merchant, Technical Analyst - Strategies, Sushil Financial Services.

SmartInvestor: Markets have started on a flat note ahead of the December series futures and options expiry on Thursday. The Nifty is hovering around 6,300 mark. What is your advice to traders on the benchmark index?

Ranak Merchant: Last week’s move saw benchmark index make a double bottom near indicated support zone of 6130-6140 and see a smart comeback. Next trigger point lies near 2 weeks prior high of 6312 level coinciding with psychological barrier of 6300. Thus 6300-6312 zone to be watched on closing basis.

Ranak Merchant: The current week likely to be volatile as derivatives expiry would dominate sentiment, also holiday season would lead to volatile moves in the absence of FIIs. Year end NAV propping would lead to individual stock moves while index may remain sideways.

SmartInvestor: Stocks of real estate companies have flared up and have extended yesterday’s gains. How are they placed on the technical parameters?

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