With Nifty hovering around the 6,100 mark and the Rupee weakening by the day, market participants have turned cautious. Also, the street will be watching the Sept IIP numbers keenly.
In such a scenario, Ravi Nathani, Technical analyst at Nsetoday.com shares his opinion on markets and a host of sectors and stock picks in the current market.
Do you see Nifty slipping below 6,000 level in the near term?
Yes as near term support of 6079 was broken on closing basis therefore near term trading strategy would be a sell on rise whereas support is expected around 6020 & 5980.
Which are some of the names that you are positive on from the realty space?
Oberoi Realty Ltd is one stock which looks good on charts for a small rally uptill 196 & 200. Rest all the Realty stocks as expected to trade in a highly volatile range.
Would it be advisable to buy into any frontline IT names to play Rupee depreciation?
On dips, stocks like HCLTECH & WIPRO shall be bought post a small correction or near support level. HCLTECH support is around 1075 & WIPRO support is at 470.
For investment, which are the three stocks that one can buy?
