Check out the trading strategies in Bank Nifty, capital shares and Midcap segment with Devangshu Datta, Technical Analyst.
SmartInvestor: Nifty is trading above 6,100 mark post the announcement of the RBI policy. What is your advice for investors to trade in Nifty?
Devangshu Datta: Status quo- Nifty will probably range between 6075 (support, use as stop loss for long positions) and 6175 (resistance, use as stop loss for shorts) for rest of the session. Breakout beyond 6175 if it happens, could lead to 6225.
SmartInvestor: How do you read the policy today?
Devangshu Datta: On expected lines. Mildly bullish stance since market was braced for harsher repo rate hike.
SmartInvestor: What is your outlook for the Bank Nifty? Do you expect the upmove to remain intact? Any preferred stock from this space?
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