Web special: Technical check on select mid-caps

Check out the technical trends for select mid-cap stocks with technical analyst, Devanghsu Datta

Check out the trends and strategies for select mid-cap stocks such as BGR Energy, Essar Oil, Dish TV, Aurobindo Pharma and Arvind with technical analyst Devangshu Datta:

Smartinvestor : Markets have extended gains today and have remained range bound as profit taking was seen at higher levels. The Nifty seems to find tough resistance at 5,600 levels. What is your advice to traders for the rest of the trading session?

Devangshu Datta : Upside resistance for the Nifty seen between 5590-5620. Downside support for the index is seen at 5550 (current), at 5525 and then 5500. Some selling pressure now. No premium on the Nifty futures. The index could retreat till 5525 or 5500. Keep a stop loss at 5590 if you go short.

Smartinvestor : BGR which had recently retreated from Rs 200 levels has gained today. What are the charts indicating and what are the resistances and targets for the stock?

Devangshu Datta : Long-term trend for BGR Energy is down. Stock could range trade between 186-190 in the short term. Resistance for the stock is seen at 190, 192, if it crosses 193, it could rise till 200. On the downside, it could drop till 180 again.

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