Check out the technical trends for select large caps such as TCS, Hindustan Unilever, ITC, L&T with independent technical analyst and trader, Mohit Gaba:
Smartinvestor : Markets have opened firm today and the Nifty is trading near 6,050 levels so far. What is your call on the benchmark index for the week ahead?
Mohit Gaba : The Index has continued its grind upward, it seems like we will expire above the 6000 mark. As for initiating fresh longs its not a smart thing to do as there are a lot of resistance zones above
Smartinvestor : Software major TCS has been in an uptrend from Rs 1,500 levels since early July. The stock has surged today on the back of robust earnings. Is the upside for the stock capped at current levels? What is the medium term outlook and what are the resistances and targets for the same?
Mohit Gaba : TCS is in new high territory, and with stocks like this the best way to trade it is to chase the up move with a trailing stop loss, stocks like this could keep running higher, hence buy with a stop loss at 1710.
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