Stock Tips and Nifty Tips 22/05/2015

NIFTY OUTLOOK FOR 22/05/2015

LOT OF RESISTANCE SEEN AT 8444-66 LEVEL,
ABOVE 8466 BULLS CAN MOVE TOWARDS 8522,
PIVOT JUMPING TO 8355,
SO BULLS HAVE TO DEFEND 8355 ON CLOSING BASIS,

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

BEARS ARE WAITING BELOW 8355,
ANY CLOSE BELOW 8311 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 8355,
ABOVE 8377 BULLS CAN TARGET 8444 AND 8533,
BELOW 8311 BEARS CAN TARGET 8266 AND 8177,

Sell Steel Authority of India Limited with a target of Rs 67: Prakash Gaba

'Steel Authority of India Limited is a 'SELL' call with a target of Rs 67 and a stop loss of Rs 64'

Sell Bank of Baroda with a target of Rs 161: Prakash Gaba

'Bank of Baroda is a 'SELL' call with a target of Rs 161 and a stop loss of Rs 153'

Buy United Breweries with a target of Rs 1040: Prakash Gaba

'United Breweries is a 'BUY' call with a target of Rs 1040 and a stop loss of Rs 1008'

Sell Voltas with a target of Rs 275: Sandeep Wagle

'Voltas is a 'SELL' call with a target of Rs 275 and a stop loss of Rs 292'

Buy Coal India with a target of Rs 386: Sandeep Wagle

'Coal India is a 'BUY' call with a target of Rs 386 and a stop loss of Rs 364'

Posted in: Indian Market Tips