Web special: Technical trends of select large caps

Check out the technical trends and strategies of select large cap stocks such as Infosys, BHEL, Sun Pharma and HDFC

Check out the technical trends and strategies with Mudit Goyal, techncial analyst at SMC Global for select large caps such as Infosys, Sun Pharma, BHEL and HDFC:

Smartinvestor : Markets have recovered marginally after five day fall. The Nifty seems to be hovering around 5,500 levels so far. What is your advice to traders at current market levels?

Mudit Goyal : Nifty is continuously moving lower while trading in lower highs and lower lows on daily charts which is bearish in nature. It is apparent from charts that nifty is going to fill the gap area around 5450 which was formed on 14th September, 2012 which suggest the more downside.

Mudit Goyal : Short term strategy is “Sell Nifty on every rise for the downside target of 5450-5400 in near term”

Smartinvestor : Infosys which had retreated from its recent high of Rs 2,970 on Apr 2 has gained marginally today. Is the stock likely to resume its uptrend ahead of its results on Friday and what are the near term resistances and targets for the stock?

Mudit Goyal : INFY is still resume its uptrend from last three months and expected to continue its uptrend in near term. 3020 is major resistance for near term. Once we got the breakout of same then only more upside can be expected upto 3300.

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