Check out the trends and strategies for select index stocks such as Hindustan Unilever, ONGC, Coal India, Jindal Steel, Tata Steel and Bajaj Auto with Ravi Nathani, Technical Analyst at nsetoday.com:
Smartinvestor : The weakness in the markets continues with FIIs turning net sellers. The Nifty continues to trade below 5,900 as of now. What are the charts indicating for the Nifty and what strategy should traders deploy for the rest of the trading session?
Ravi Nathani : Near term trend is down on charts, whereas support is expected around 5820 & 5760, best trading strategy for traders would be sell on rise.
Smartinvestor : FMCG major seems to remain range bound between Rs 580-590 for the past few weeks. Is the stock likely to break out on the upside after a period of consolidation? what is your advice to long term investors on the stock?
Ravi Nathani : Be invested in HUL as trend on charts is bullish for medium term with a stoploss of 580 as per closing basis.
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