Stock Tips and Nifty Tips 29/05/2015

NIFTY OUTLOOK FOR 29/05/2015

BULLS ARE MAKING ALL THE EFFORTS
TO STOP THE DOWN FALL, BUT BEARS ARE HITTING
NIFTY AT ALL THE RISES,
THE SUPPORT IS AT 8288 LEVEL,
THE PIVOT IS AT 8355,

ANY CLOSE BELOW 8311 WILL BRING MORE
BEARS AND MORE DOWN SIDE,
BULLS HAVE TO SEE A CLOSE ABOVE 8400 FOR
ANOTHER UP MOVE,

THE FOLLOWING PATTERN STILL VALID,
A CLOSE ABOVE 8555 WILL CONFIRM THE TARGET,
NIFTY FORMING DOUBLE BOTTOM PATTERN IN HOURLY
CHART, BREAKING ABOVE 8355 WILL LEAD
NIFTY TO THE TARGET OF 8716,

BEARS ALSO FOLLOWING ONE PATTERN,
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 8400 BULLS CAN TARGET 8577 AND 8666,
BELOW 8311 BEARS CAN TARGET 8222 AND 8133,

Buy TVS Motor with a target of Rs 247: Prakash Gaba

'TVS Motor Ltd. is a 'BUY' call with a target of Rs 247 and a stop loss of Rs 237'

Sell United Breweries with a target of Rs 908: Prakash Gaba

'United Breweries is a 'SELL' call with a target of Rs 908 and a stop loss of Rs 965'

Buy TVS Motor with a target of Rs 246: Prakash Gaba

'TVS Motor is a 'BUY' call with a target of Rs 246 and a stop loss of Rs 232'

Sell United Breweries with a target of Rs 900: Prakash Gaba

'United Breweries Ltd. is a 'SELL' call with a target of Rs 900 and a stop loss of Rs 970'

Sell Sun Pharma with a target of Rs 944: Prakash Gaba

'Sun Pharma Ltd. is a 'SELL' call with a target of Rs 944 and a stop loss of Rs 983'

Posted in: Indian Market Tips