The benchmark indices are likely to close the day in red for the fifth straight session led by shares of software exporters and lenders. Abhijit Paul, founder, Alphative Advisors believes the downward move has been led by the largecaps and sees 6100-6120 as the level for Nifty Future.
According to Paul, if someone wants to go short on the Nifty or the Bank Nifty he must trail the stop losses on the downside and wait for 6120, where one can book some profits. However, in case of longs, there is not much strength except the ones in the smallcaps and midcaps, but within the large cap Nifty 50 stocks, Larsen and Toubro (L&T) stands out, he adds.
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