Stock Tips And Nifty Tips For 20/11/2013

NIFTY OUTLOOK FOR 20/11/2013

LITTLE CONSOLIDATION GOING ON.
BULLS NEED EXTRA ENERGY IN THE FORM
OF NEWS FLOW TO MOVE FROM HERE.

BUT ALL THE CLOSES ABOVE 6111 ARE BULLS AREA.
AGAIN BULLS MOVING TOWARDS 6355.
6244 AND 6288 ARE THE SMALL RESISTANCES
BEFORE BULLS.

BEARS WILL GET ACTIVE ONLY BELOW 6111.
PANIC SELLING SEEN BELOW 6022.

AS WE POSTED HERE,
IN THE MONTHLY CHART NIFTY TRYING FOR A
MAJOR BREAK UP IN ASCENDING TRIANGLE PATTERN.
UPPER LINE OF THE TRIANGLE IS AT 6357.
LOWER TREND LINE NOW PLACED AT 5266-88 LEVEL.

FOR BREAK UP CONFIRMATION
MONTHLY CLOSE ABOVE 6357 IS NEEDED.
TARGET IS 6357+(6357-2252)=10462.

FOR THE NEXT SIX MONTHS
WE HAVE TWO OPTIONS AHEAD.

FIRST OPTION,
NIFTY CAN BREAK OUT 6357 AND MAKE NEW HIGH.
AGAIN RETEST THE BREAK OUT POINT.
NIFTY MAY TRADE IN THE RANGE 6355-7111.

THE NEXT OPTION,
FOR NEXT SIX MONTHS,
NIFTY MAY TRADE BETWEEN 5266 TO 6357.
AND THE BREAK OUT MAY HAPPEN AFTER
FORMATION OF NEW UNION GOVERNMENT.

Buy Hindalco with a target of Rs 129: Sandeep Wagle 

"Hindalco is a ‘BUY’ call with a target of Rs 129 and a stop loss of Rs 120."

Buy Maruti Suzuki India Ltd with a target of Rs 1,730: Sandeep Wagle 

"Maruti Suzuki India Ltd is a ‘BUY’ call with a target of Rs 1,730 and a stop loss of Rs 1,670."

Buy Jubilant FoodWorks Ltd with a target of Rs 1,350: Mitesh Thacker 

"Jubilant FoodWorks Ltd is a ‘BUY’ call with a target of Rs 1,350 and a stop loss of Rs 1,274.90."

Buy Punjab National Bank with a target of Rs 550: Mitesh Thacker 

"Punjab National Bank is a ‘BUY’ call with a target of Rs 550 and a stop loss of Rs 531.90."

Buy Tata Communications Limited with a target of Rs 295: Ashwani Gujral 

"Tata Communications Limited is a ‘BUY’ call with a target of Rs 295 and a stop loss of Rs 279."