Web Special: Trading strategies for banking, auto, metal stocks

Check out the trading strategies for frontline and interest rate sensitive stocks with Navneet Daga, derivative analyst, KR Choksey Securities


Smartinvestor : The markets have started the week on a negative note today. Do you see more profit booking creeping in ahead of the RBI's policy review tomorrow?

Navneet Daga : Well today we are waking up very bad set of global cues, we belive markets would remain under serious pressure going into the monetary policy event, with major supports near 5800 zone, but rising impllied vols signals volatility to continue.

Smartinvestor : Metal stocks have cracked badly, especially Coal India post the offer for sale (OFS) news reports. How does it stack up on the technical paremeters? What about Hindalco, Sterlite and Tata Steel?

Navneet Daga : Well coal india after the news flow had cracked, we believe it to remain under pressure with minor supports near 300 levels, but other metals stocks like tisco, hindalco have the worst of charts, stocks sliding near its 5 yrs low, looks more shaky at this point of time, with dollar index gaining strenght signals, downside for commodites stocks is still in place.

Smartinvestor : How would you play the banking space, especially the private sector banks given the recent newsflow and the RBI policy review tomorrow?



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