Stock Tips and Nifty Tips 20/05/2015

NIFTY OUTLOOK FOR 20/05/2015

PERFECT CONSOLIDATION GOING ON,
BULLS DEFEND 8355 ON CLOSING BASIS,
DOLLAR INDEX BOUNCING BACK AND GIVING
HOPES TO THE BULLS,

PIVOT PLACED AT 8288,
THE FOLLOWING PATTERN GET VALID,

NIFTY FORMING DOUBLE BOTTOM PATTERN IN HOURLY
CHART, BREAKING ABOVE 8355 WILL LEAD
NIFTY TO THE TARGET OF 8716,

BEARS ARE WAITING BELOW 8244,
ANY CLOSE BELOW 8244 WILL LEAD TO FURTHER DOWNSIDE,

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 8288,
ABOVE 8333 BULLS CAN TARGET 8400 AND 8488,
BELOW 8244 BEARS CAN TARGET 8044 AND 7955,

Buy Strides Arcolab with a target of Rs 1,138: Prakash Gaba

'Strides Arcolab Ltd is a 'BUY' call with a target of Rs 1,138 and a stop loss of Rs 1,082'

Buy IndusInd Bank with a target of Rs 874: Prakash Gaba

'IndusInd Bank Ltd is a conditional 'BUY' call with a target of Rs 874 and a stop loss of Rs 838'

Buy Hexaware with a target of Rs 278: Prakash Gaba

'Hexaware Ltd is a conditional 'BUY' call with a target of Rs 278 and a stop loss of Rs 262'

Buy Reliance Industries with a target of Rs 925: Mitesh Thacker

'Reliance Industries Ltd is a 'conditional BUY' call with a target of Rs 925 and a stop loss of Rs 884'

Posted in: Indian Market Tips