Chart Check: Five stocks to buy in this lacklustre market

Check out the trading strategies for key frontline and mid-cap stocks with Kunal Bothra, technical analyst, LKP Securities



Smartinvestor : How long do you expect this lacklustre movement to continue? What are the key triggers that can break this trading range? What are the key Nifty levels you are keeping a tab on?

Kunal Bothra : I think, this lacklustre movement has just started from yesterday and probably for a couple of days it may continue before we witness the trend changing in the global markets. Some of the key triggers include, a consolidation (price or time) in global equity markets, along with weakness in our currency, which could aggravate the situation to a large extent.
 

Kunal Bothra : Support for Nifty is closer to levels of 6050 and resistance is placed at 6250 levels for the May series.

Smartinvestor : What are you advsising regarding the information technology (IT) pack? Is it a good time to buy stocks from this universe?

Kunal Bothra : For a trading opportunity yes, many of these stocks seem to be short term bullish. But if you assess the medium to longer term trend then it is still unclear. From a trading opportunity we believe that TCS and INFY look good.

Smartinvestor : Can you suggest three stocks from the mid-cap basket that can be bought at the current levels for a trading opportunity?

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