Smart chips

After remaining a sectoral underperformer for some time, the scrip has witnessed another dead-cat bounce. The short-term oscillators are now placed in the oversold territory, but they are not giving any indication of change in the current trend. The scrip may stay an underperformer.

Again a case of short covering as we approach the expiry of August series. This was helped by the weakening rupee. The short-term oscillators are now placed in the oversold territory, but they are not showing any pattern, which indicates that current medium-term bearish trend may end soon.

This counter witnessed short covering after weaknesses during last few days. The short-term oscillators are not giving any strong indication of any change in the trend. The current upward movement of the scrip is going to face resistance at Rs 1,402 level from its long-term moving averages.

This counter has witnessed a breakout after moving in the sideways direction. The counter is likely to gain some more momentum in the extreme short term with the short-term oscillators having turned into ‘buy’ mode from the equilibrium territory. Hold the scrip at current level.