Check out the technical trends and strategies for select mid-cap stock such as NIIT Tech, Maharashtra Seamless, Opto Circuits, Havells India and IFCI with technical analyst, Devangshu Datta:
Smartinvestor : Markets continue to trade in positive terrain since early trades today. However, the Nifty seems to be facing tough resistance at 5,600 levels so far. What strategy should traders adopt for the rest of the trading session?
Devangshu Datta : Assume futures premium =20. Nifty could be range bound between 5550-5600. Breakouts for the benchmark index could be till 5525/ 5625.
Smartinvestor : After trading around RS 220 levels for the past one month Maharashtra Seamless has surged in today's trade with good volumes. The stock had corrected from these levels in mid-Feb. what are the near term resistances and targets for the stock?
Devangshu Datta : Maharashtra Seamless has big resistance at 240, next resistance for the stock is seen at 238. support for the stock is seen at 228. stock is likely to test resistancew at 238-240 again.
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