Stock Tips and Nifty Tips 27/04/2015

NIFTY OUTLOOK FOR 27/04/2015

THE WEEKLY HIGH IS @8619,
THE LOW IS @8273,
NIFTY CLOSES JUST ABOVE THE LOW @8305,
NOW THE WEEKLY PIVOT IS @8400,

BEARS ARE TRYING TO TEST THE 200DMA NOW @8257,
BULLS ARE HAVING LOT OF HOPES @THIS 8244-66 LEVEL,

NIFTY MAY BOUNCE FROM THE ABOVE LEVEL
TO 8577 IN THIS WEEK AHEAD,
THIS IS 50% RETRACEMENT FOR THE DOWN MOVE FROM 8844 TO 8273,

BUT CLOSING BELOW 200DMA @8257 WILL BRING
LOT OF PANIC SELLING AND MORE DOWN SIDE TO THE NIFTY,
CAUTION NEEDED BELOW 8244,
EXIT FROM ALL THE LONGS IF NIFTY CLOSES BELOW 8544,

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 8400,
ABOVE 8444 BULLS CAN TARGET 8577 AND 8666,
BELOW 8355 BEARS CAN TARGET 8222 AND 8133,

Sell Cipla with a target of Rs 615: Ashwani Gujral

Sell Cipla with a target of Rs 615 and a stop loss of Rs 650.

Sell Century Textiles with a target of Rs 685: Ashwani Gujral

'Sell Century Textiles with a target of Rs 685 and a stop loss of Rs 715'

Buy NCDEX chana with a target of Rs 4,080: Manoj K Jain

'Buy NCDEX chana with a target of Rs 4,080 and a stop loss of Rs 3,960'

Sell MCX crude with a target of Rs 3,520: Manoj K jain

'Sell MCX crude with a target of Rs 3,520 and a stop loss of Rs 3,650'

Posted in: Indian Market Tips