Stock Tips And Nifty Tips For 06/05/2013

Nifty Weekly Technical Analysis charts

Nifty touched 6000 first time since Feb month, RBI disappointed the street with just 25 BPS cut and hinting scope of further rate cut is limited. It has spoiled the bullish momentum on the Street. May month has started and Stock market well know adage “Sell in May and Go away”. So lets see how to approach nifty trading for next week.

Last week we gave Trend Deciding level as 5900 achieved all weekly targets on upside.

NIFTY OUTLOOK FOR 06/05/2013

MARKET EXPECT MORE FROM RBI.
SO 25BPS RATE CUT FAVORED BEARS.

GLOBAL MARKETS SEARCHING NEW LIFE TIME
HIGHS. BUT FOR NIFTY, UPA GOVT. HAVE
TO GIVE SOME CLEAR POSITIVE SIGNALS.

THE NEXT BIG RESISTANCE IS AT 6022.
AFTER A CLOSE ABOVE 6022 BULLS CAN
TARGET 6111.

ON THE DOWNSIDE 5911, 5866, AND 5822
ARE THE SUPPORTS.

Buy Tata Steel with a target of Rs 330: Mitesh Thacker 

"Tata Steel is a 'BUY' call with a target of Rs 330 and a stop loss of Rs 304. "

Buy Bata India with a target of Rs 790: Mitesh Thacker 

"Bata India is a 'BUY' call with a target of Rs 790 and a stop loss of Rs 749. "

Buy Bata with a target of Rs 790: Ashwani Gujral 

"Bata is a ‘BUY’ call with a target of Rs 790 and a stop loss of Rs 750."

Sell PNB with a target of Rs 720: Ashwani Gujral 

"PNB is a ‘SELL’ call with a target of Rs 720 and a stop loss of Rs 755."

Sell DLF with a target of Rs 220: Ashwani Gujral 

"DLF is a ‘SELL’ call with a target of Rs 220 and a stop loss of Rs 237."

Buy Siemens with a target of Rs 585: Mitesh Thacker

"Siemens is a 'BUY' call with a target of Rs 585 and a stop loss of Rs 542. "