Stock Tips and Nifty Tips 07/05/2015

NIFTY OUTLOOK FOR 07/05/2015

NEWS FLOWS HITS THE MARKET,
NIFTY SLIP BELOW 8100 AND CLOSES AT 8097,
NOW THE 200DMA PLACED @8277 AND
THE PIVOT SLIP DOWN TO 8177,

BELOW 8133 BEARS ARE DRIVING NIFTY,
8088 AND 8000 ARE THE NEXT IMPORTANT SUPPORTS,

BULLS HAVE TO SEE A CLOSE ABOVE 8222 FOR
ANOTHER UP MOVE, TOWARDS 8466 AND 8555,

THE FOLLOWING PATTERN HAVE SOME VALUE
AS LONG AS NIFTY TRADE BELOW 9119,

THE HIGH ON 30/01 WAS 8996,
THE LOW ON 10/02 WAS 8470,
AGAIN THE HIGH ON 04/03 WAS 9119,
THIS IS A DOUBLE BOTTOM PATTERN,
BELOW 8472, (9119-8470=649) (8470-649=7821)
THIS PATTERN HAVE THE TARGET AT 7821,

AS PER TECHNICAL,
NOW THE WEEKLY PIVOT IS 8177,
ABOVE 8222 BULLS CAN TARGET 8355 AND 8444,
BELOW 8244 BEARS CAN TARGET 8044 AND 7955,

Sell Bharat Forge with a target of Rs 1,365: Ashwani Gujral

'Bharat Forge Ltd is a 'SELL' call with a target of Rs 1,365 and a stop loss of Rs 1,300'

Sell IOC with a target of Rs 325: Ashwani Gujral

'IOC Ltd is a 'SELL' call with a target of Rs 325 and a stop loss of Rs 350'

Sell REC with a target of Rs 289: Sandeep Wagle

'REC Ltd is a 'SELL' call with a target of Rs 289 and a stop loss of Rs 315'

Sell Hindustan Petroleum with a target of Rs 585: Sandeep Wagle

'Hindustan Petroleum Ltd is a 'SELL' call with a target of Rs 585 and a stop loss of Rs 618'

Sell Larsen & Toubro with a target of Rs 1,530: Sandeep Wagle

'Larsen & Toubro Ltd is a 'SELL' call with a target of Rs 1,530 and a stop loss of Rs 1,638'

Posted in: Indian Market Tips