Check out the technical trends in select stocks such as ICICI Bank, RIL, L&T, Maruti Suzuki with Mohit Gaba, independent technical analyst and trader:
SmartInvestor : Markets have rebounded after a firm opening and the Nifty has once again reclaimed the 6,700 level as of now. What is your advice to traders keeping in view the likely trend of the benchmark index for the near term?
Mohit Gaba : The 6650 - 6550 are good support zones, we could see the market consolidate around these levels. We might see one more leg higher on the Index before election results.
SmartInvestor : Chart indicate that ICICI Bank seems to be consolidating between Rs 1,200 and Rs 1,250 for the past few trading sessions. What is your strategy on the stock for the medium term?
Mohit Gaba : The range on ICICI bank is 1200 - 1270, if we see a break on either side one can initiate a trade in the directions on the break out. There is a good chance this breakout happens on the up side.
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