Web special: Technical check on markets

Check out the technical trends for select index stocks with Kunal Bothra, technical analyst at LKP Securities

Check out the technical trends for select  index stocks such as Wipro, SBI and Bajaj Auto with Kunal Bothra, technical analyst at LKP Securities:

Smartinvestor : Markets have remained firm since early trades led by index heavweights. What is your call on the markets ahead of the July F&O expiry on Thursday?

Kunal Bothra : Markets are showing good strength at these levels. I think an expiry above 6100 is very likely looking at the current scenario for the markets. We are advising traders to hold on to their long positions with a trailing stop loss at 5980 on Nifty spot levels.

Smartinvestor : Software major Wipro has been in an uptrend since early June from Rs 330-340 levels. Is the uptrend in the stock intact? What is your call on the stock for the medium term?

Kunal Bothra : Its been a slow and steady rise for Wipro. Technically this is a good sign for the stock and the medium to long term view for the stock seems to be bullish. It has already crossed the 200 DMA which is a good sign for the stock. I think that above the psychological break of 400, stock could see some spurt in momentum towards 440 levels.

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