Smartinvestor : Markets have surged today on the back of a rally in energy stocks after natural gas prices were doubled. The Nifty has been hovering around 5,780 levels as of now. What is your advice to traders for the week ahead?
Ranak Merchant : The June expiry series week has seen volatility and a bounce from extreme oversold levels. Today's price action on account of news has brought back benchmark indices above their respective 200 day ema. also the first retracement resistance of the entire April - June fall stands at 5780 for the Nifty, currently pretty much near the same level. Going ahead, traders would be adivsed to book partial long profits and maintain the balance position with a trailing stop loss. Crucial for 5762 to be held onto on a closing basis.
Smartinvestor : Oil India which gained sharply in early trades on back of the gas price hike has retreated from its day highs of Rs 625 and turned negative. What is the medium term outlook on the stock and what are the supports and resistances for the same?
For detailed transcript please CLICK HERE
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%