NIFTY OUTLOOK FOR 16/05/2013

YESTERDAY WE POSTED HERE, THAT,
A CLOSE ABOVE 6044 NEEDED FOR BULLS
TO TERMINATE THE BEARISH CLOUD.
ALSO A CLOSE ABOVE 6133 NEEDED TO
START FRESH RALLY TOWARDS 6222.

BULLS DO BOTH JOBS IN SINGLE DAY.
FALLING COMMODITY PRICES SUPPORTED THEM.
SO THEY ARE ON THE WAY TO 6222.

ON THE DOWNSIDE,
BEARS HAVE TO WAIT FOR CLEAR TREND
REVERSAL. AVOID SHORTING AT HIGH LEVEL.
6111 AND 6066 ARE SUPPORTS FOR BULLS.
5955 SEEMS LAST HOPES FOR BULLS.
MORE BEARS WILL COME BELOW 5955.
5866 AND 5777 ARE THE DREAM DESTINATIONS
FOR BEARS.

Buy Sun TV Network with a target of Rs 462: Ashwani Gujral

Buy Sun TV Network with a stop loss of Rs 435 and look for a price target of 462.

Buy JSW Energy with a target of Rs 74: Ashwani Gujral

Buy JSW Energy with a stop loss of Rs 62 and look for a price target of Rs 74.

Buy Indiabulls Real Estate with a target of Rs 88: Ashwani Gujral

Buy Indiabulls Real Estate with a stop loss of Rs 76 and look for a price target of Rs 88.

Buy HPCL with a target of Rs 325: CK Narayan

Buy HPCL with a stop loss of Rs 309 and look for a price target of Rs 325.

Buy Larsen & Toubro with a target of Rs 1610: CK Narayan

Buy L&T with a stop loss of Rs 1555 and look for a price target of Rs 1610.