Check out the trends and strategies for select index stocks such as Hindustan Unilever, Bharat Heavy Electricals, Tata Consultancy Services, Bharti Airtel and Sun Pharma with Ravi Nathani, Technical Analyst at nsetoday.com:
Smartinvestor : Market have remained range bound since early trades today after the sharp volatility yesterday. The Nifty is edging close to 6,000 levels. What is the near term outlook on the Nifty?
Ravi Nathani : Buy on dips would be the best trading strategy to trade, with a strict stoploss of 5900 as per closing basis. Stiff resistance is expected around 6040 & 6120
Smartinvestor : Hind Unilever which was consolidating below Rs 600 levels since late April and surged after topping the Rs 600 levels. Is the upternd in the stock likely to continue? What is the medium term outllook on the stock?
Ravi Nathani : Trend is up on charts whereas sharp rally in near term would certainly attract profit booking on rise. Strong resistance is expected around 720-732, whereas support is expected around 648 - 640.
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