Check out the latest strategies and trends with Kunal Bothra, technical analyst, LKP Securities
Smartinvestor : The markets have opened on a cautious note ahead of the FOMC meet. What are the key trends that you are picking up?
Kunal Bothra : Its a cautious start and I believe that if 5800 holds on intraday then the short term uptrend could be intact. I think 5800 should act as a short term pivot. Markets are keenly waiting for the FOMC meet outcome. However, Indian markets have shrugged off yesterday's status quo from RBI.
Smartinvestor : Telecom stocks are buzzing today after the Trai's order. Do any merit a BUY at this stage given their technical chart patterns?
Kunal Bothra : I think the two stocks in this sector which warrants attention is IDEA and RCOM. Idea is on a rising trend on weekly charts, I think with this sharp uptrend continuing, the all time high of 160 levels could be taken out in the medium term (3-5 months). RCOM on the other hand is consolidating and is looking to form a very strong pattern. I think, even RCOm holds good potential with an upside target of 160 in the longer term (1 year timeframe)
Smartinvestor : Gains are also visible in media related stocks. Do you track HT Media, TV Today and NDTV?
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