CK Narayan of Chart Advise, Dalal Street‘s most seasoned and arguably senior-most expert in market technicals, will share his technical tips on the go right here on this page. Stay logged in!
Buy TechM if it continues to rise towards Rs 840 level
Traders generally tend to follow stocks and sectors that are moving. IT as a sector has been faring rather well in recent times. Within the IT sector, TechM has been a good performer and on the chart, we can see that the price action is still quite robust, which is expected to continue into this week as well. Stock can be bought if the rise continues towards Rs 840 level.
Manappuram Finance can head towards Rs 175-80 area
Financials were seen better at the end of the week and if market remains steady in this area, stocks that improved last week can run further. Manappuram Finance was one such stock and we see in the chart that prices are clearing prior swing highs and seems poised to continue. Hence, it is a buy above the last close and prices can then spur ahead towards Rs 175-80 area.
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)