Technical outlook for L&T, Bank Nifty & Pharma shares

Check out the recommendations and strategies of Devangshu Datta, Technical Analyst.  

SmartInvestor: Markets have edged higher in trades today with Sensex hitting 3-yr high. The Nifty has managed to stay above the 6,150 levels. What is your advice to traders on the benchmark index for rest of the trading session?

Devangshu Datta: The Nifty index is likely to move higher and test resistance at 6180-6200. Keep a stop loss on the downside at around 6120.

SmartInvestor: Banking shares are in focus with Bank Nifty surging over 2%. Do you see the trend continuing or should one use the upside to exit?
 

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