Markets volatile: Trading tips for midcaps -Personal Finance, News Money,
Volatility is once again ruling the markets. Experts give their views on how to trade the midcap space in the current market scenario.
Markets are on a rollercoaster ride today. Experts give their views on how to trade the midcap space in the current market scenario.
Technical Analyst, Anil Manghnani, believes that if the midcap space does not perform in the next few sessions, then there could be some problem. He says, "The market's negative breadth for a continuous period of time where the index still keeps going higher, doesn’t send out good feelers. We need the midcap sector to definitely start performing soon."
According to Manghnani, quality midcap stocks have taken an unnecessary pounding over the last few days.
"Looking at the amount of money that has been raised by mutual funds in the last six months and new midcap mutual fund offerings, I am sure at some point of time these midcaps which were unnecessarily being hammered will find some takers or some good buying opportunities," he adds.
Manghnani believes that if the midcaps and small caps will not perform before the large caps take a breather, the scenario could worsen for them.
Manghnani says that he would not trade some of the high flying midcap stocks like Tata Tele, Centurion Bank and Indiabulls until there is a lot of news in them. According to him, the buzz in TTML was news based. He believes that the stock will settle down at Rs 29-30 levels.
Manghnani is bearish on Indiabulls. He says that on declines, India Infoline looks better at around Rs 130 compared to Indiabulls. "Indiabulls is looking weak on the charts and till it reaches Rs 160 level, I wouldn’t touch it," he adds.
Markets are on a rollercoaster ride today. Experts give their views on how to trade the midcap space in the current market scenario.
Technical Analyst, Anil Manghnani, believes that if the midcap space does not perform in the next few sessions, then there could be some problem. He says, "The market's negative breadth for a continuous period of time where the index still keeps going higher, doesn’t send out good feelers. We need the midcap sector to definitely start performing soon."
According to Manghnani, quality midcap stocks have taken an unnecessary pounding over the last few days.
"Looking at the amount of money that has been raised by mutual funds in the last six months and new midcap mutual fund offerings, I am sure at some point of time these midcaps which were unnecessarily being hammered will find some takers or some good buying opportunities," he adds.
Manghnani believes that if the midcaps and small caps will not perform before the large caps take a breather, the scenario could worsen for them.
Manghnani says that he would not trade some of the high flying midcap stocks like Tata Tele, Centurion Bank and Indiabulls until there is a lot of news in them. According to him, the buzz in TTML was news based. He believes that the stock will settle down at Rs 29-30 levels.
Manghnani is bearish on Indiabulls. He says that on declines, India Infoline looks better at around Rs 130 compared to Indiabulls. "Indiabulls is looking weak on the charts and till it reaches Rs 160 level, I wouldn’t touch it," he adds.
posted by Sensex-Blog Admin at 12:00 AM
0 Comments:
Post a Comment
<< Home