Check out the trading strategies with Gaurav Ratnaparkhi, technical analyst, Sharekhan
Smartinvestor : The markets haven't been able to sustain at higher levels today and have slipped into the negative turf after a positive start. What are the key trends that you are tracking now?
Gaurav Ratnaparkhi : Nifty is in a downtrend fom short term as well as medium term perspective. It has broken down from a large H&S pattern - a bearish pattern. However there is scope for a minor degree bounce till 5690 - 5700 which should be used as a fresh selling opportunity. Reversal can be placed at 5760, targets would be 5550 - 5500
Smartinvestor : What's happening to the mid-cap basket?
Gaurav Ratnaparkhi : Mid cap stocks most of which being high beta stocks have crashed significantly in last few weeks. There is lot be seen on the downside in these stocks. Any minor degree bounce should be taken as an opportunity to align the position on the short side
Smartinvestor : How do Lanco Infratech, Allahabad Bank, Dish TV India stack up on the technical parameters? Do you recommend a SELL in these counters as well?
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