Stock Tips and Nifty Tips 24/06/2015

NIFTY OUTLOOK FOR 24/06/2015

THE HIGH IS 8398,
NIFTY CLOSES AT 8381,
PIVOT MOVES UP TO 8266,
200DMA IS AT 8364,

AS WE POSTED HERE,
A CLOSE ABOVE 8361 IN THIS WEEK,
CONFIRMING US THAT NIFTY RESUMING THE BULLISH TREND,

LITTLE CONSOLIDATION EXPECTED,
NIFTY MAY RE-TEST 8333-55 LEVEL,
BUT ABOVE 8400 NIFTY CAN START RALLY,

THE 200DMA IS AT 8364 AND 50DMA IS AT 8285,
BEARS MAY STRIKE AT ANY TIME,

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 8266,
ABOVE 8311 BULLS CAN TARGET 8444 AND 8533,
BELOW 8222 BEARS CAN TARGET 8088 AND 8000,

Sell Hero MotoCorp with a target of Rs 2,475: Mitesh Thacker

'Hero MotoCorp Ltd. is a 'SELL' call with a target of Rs 2,475 and a stop loss of Rs 2,560'

Buy Larsen & Toubro with a target of Rs 1,810: Mitesh Thacker

'Larsen & Toubro Ltd. is a 'BUY' call with a target of Rs 1,810 and a stop loss of Rs 1,744'

Buy UltraTech Cement with a target of Rs 3,000: Ashwani Gujral

'UltraTech Cement Ltd. is a 'BUY' call with a target of Rs 3,000 and a stop loss of Rs 2,860'

Buy BPCL with a target of Rs 854: Ashwani Gujral

'BPCL Ltd. is a 'BUY' call with a target of Rs 880 and a stop loss of Rs 854'

Buy Cipla with a target of Rs 656: Ashwani Gujral

'Cipla Ltd. is a 'BUY' call with a target of Rs 656 and a stop loss of Rs 620'

Posted in: Indian Market Tips