Stock Tips and Nifty Tips 23/06/2015

NIFTY OUTLOOK FOR 23/06/2015

BULLS SEE A CLOSES ABOVE 8350 AT 8353,
NOW THE 200DMA@8361 IS BIG RESISTANCE,
A CLOSE ABOVE 8361 IN THIS WEEK AHEAD,
WILL CONFIRM US NIFTY RESUMING THE BULLISH TREND,

NOW THE PIVOT PLACED AT 8133,
BEARS ARE WAITING BELOW 8133,
A CLOSE BELOW 8088 WILL BRING MORE BEARS,

50DMA @8361 AND 200DMA@8293,
THIS DEVIL CROSS PUT NIFTY IN TO
THE BEARISH ZONE,

BEARS ARE FOLLOWING ONE PATTERN,
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 TOP PATTERN,
BELOW 8472, (9119-8470=649) (8470-649=7821)
THIS PATTERN HAVE THE TARGET AT 7821,

NOW BULLS ARE ALSO HAVING ONE PATTERN,
THE LOW OF NIFTY ON 07/05/2015 WAS 8057,
THE HIGH OF NIFTY ON 22/05/2015 WAS 8489,
AGAIN NIFTY MADE A LOW OF 7940 ON 15/06/2015,
THIS IS FORMING DOUBLE TOP PATTERN IN DAILY CHART,
SO ABOVE 8489 BULLS CAN TARGET 9038,

AS PER TECHNICAL,
NOW THE WEEKLY PIVOT IS 8133,
ABOVE 8177 BULLS CAN TARGET 8311 AND 8400,
BELOW 8088 BEARS CAN TARGET 7955 AND 7866,

Buy HDFC Bank with a target of Rs 1,100: Mitesh Thacker

'HDFC Bank Ltd. is a 'BUY' call with a target of Rs 1,100 and a stop loss of Rs 1,039'

Buy Voltas with a target of Rs 365: Mitesh Thacker

'Voltas Ltd. is a 'BUY' call with a target of Rs 365 and a stop loss of Rs 345'

Buy Britannia with a target of Rs 2,820: Sandeep Wagle

'Britannia Ltd. is a 'BUY' call with a target of Rs 2,820 and a stop loss of Rs 2,720'

Buy Kotak Mahindra Bank with a target of Rs 1,422: Sandeep Wagle

'Kotak Mahindra Bank Ltd. is a 'BUY' call with a target of Rs 1,422 and a stop loss of Rs 1,350'

Buy Engineers India with a target of Rs 233: Mitesh Thacker

'Engineers India Ltd. is a 'BUY' call with a target of Rs 233 and a stop loss of Rs 215'

Posted in: Indian Market Tips