We expect Nifty to fall to 5750 / 5700 levels: Shardul Kulkarni

Find out stocks you can buy and sell from a short term trading perspective with Shardul Kulkarni, Sr. Technical Analyst, Angel Securities.


Smartinvestor : After days of consolidation and being rangebound, the markets have gained ground today morning. Is this uptrend sustainable? What are the key Nifty levels that you are keeping a tab on?

Shardul Kulkarni : The Nifty faces key resistance at the 6000 mark. Any move towards 6000 can be used as an opportunity to initiate short positions. We expect a fall to 5750 / 5700 levels over the next 3 to 5 weeks.

Smartinvestor : Tata Motors, SAIL and Sun Pharma have been in the news recently. How do they stack up on the technical parameters?
 

Shardul Kulkarni : Tata motors, strong resistance at 315 levels. Sell and move out. Sail very strong downtrend. Expect counter to test 70 over the next month or so. Sun pharma - good strong higher top higher bottom cycle. Use every decline to buy

Smartinvestor : What’s your call on mid-cap names such as Punj Lloyd, Fortis Healthcare and Opto Circuits?

Smartinvestor : Do you like anything in the banking pack for a long / short position?


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