Check out the technical trends in select mid-cap stocks such as Gitanjali Gems, Blue Star, Tata Global and Arvind with Somil Mehta, Sr Technical Analyst, Sharekhan:
Smartinvestor : In the mid-cap segment Gitanjali Gems is among the top gainers today. The stock has firmed up from Rs 470 levels in the last week of Dec. What are the near term resistances for the stock?
Somil Mehta : Near term resistances and targets for the stock are between Rs 600-610. Investors can hold on to the stock while new investors should keep a stop loss of Rs 525 and hold on for a target of Rs 650-680 levels.
Smartinvestor : Blue Star has corrected from Rs 200 levels. Is the stock looking even at current levels and what are the near term supports for the stock?
Somil Mehta : Blue Star is looking weak for the medium term outlook with supports at Rs 175 and Rs 164. However, in the short term the stock may bounce till Rs 225 levels.
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