If Rupee hardens, IT will be good hedge: Devangshu Datta

Check out the trading strategies in Bank Nifty, IT shares, Hero Moto, broader markets, with Devangshu Datta, Technical Analyst.

SmartInvestor: Markets are trading flat with Sensex and Nifty swinging between negative and positive zone. What is your advice to traders on the benchmark index for the next week?

Devangshu Datta: Trend depends partially on the FOMC. Overall, the market seems in the early stages of an intermediate downtrend. I would look to be net short on Nifty unless there's a strong positive surprise from the FOMC.

SmartInvestor: IT stocks are in demand on good US economic data. How are Infosys, TCS, Wipro and HCL Tech placed on the technical parameters?
 

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