Web special: Nifty has strong support around 7,200

Check out the technical trends in select stocks with Ravi Nathani, Technical Analyst, nsetoday.com

Check out the technical trends in select stocks such as BHEL, IT majors, Sun Pharma and Maruti Suzuki with Ravi Nathani, Technical Analyst, nsetoday.com:


SmartInvestor : Markets seems to be witnessing profit taking. The Sensex has retreated twice from 25,000 and the Nifty from 7,500 levels. The Nifty has been hovering around 7,300. What is your advice to traders for the rest of the trading session?
    
Ravi Nathani : Traders & Investors shall hunt for opportunities to buy the index heavy weights on dips whereas one could also buy Nifty BEES for long term as trend is up on charts. Near term Nifty has strong support around 7200 which would also be treated as a strict stoploss for all long positions.

    

SmartInvestor : BHEL has seen a sharp run-up in the rally last week. The stock is now undergoing correction from Rs 280 levels. What is the medium term outlook and what are the supports and resistances for the stock at current levels?

Ravi Nathani : Near term stock is a sell with a target expected 230.
    
SmartInvestor : Among the IT majors Wipro, Infosys, TCS and HCL Tech which stock is looking good for gains of 5-10% in the near to medium term? What are the supports and resistances for the same?
   
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