NIFTY OUTLOOK FOR 14/03/2014

WE HAVE POSTED YESTERDAY THAT,
BEARS ARE NOT ABLE TO MOVE BELOW 6488.
BULLS ARE NOT ABLE TO MOVE ABOVE 6555.
TODAY ALSO THE SAME RANGE SEEN.
REASON IS THAT,
CONSOLIDATION GOING ON. SMART MONEY
SHIFTING FORM SECTOR TO SECTOR.

ELECTION NEWS, GLOBAL TRENDS, AND NEWS
FLOWS HAVE TO COME TO GIVE
DIRECTION TO THE NIFTY.

AS, 6355 IS BREAK OUT POINT, NIFTY MAY
RE-TEST THIS LEVEL BEFORE MAKING
ANOTHER UP MOVE.

ALL THE REST REMAIN SAME,
FIRST TIME BULLS SEE A WEEKLY CLOSE
ABOVE 6400 AT 6526. BUT FOR THE MAJOR
BREAK OUT OF THE ASCENDING TRIANGLE
PATTERN FORMED IN MONTHLY CHART
NEED A MONTHLY CLOSE ABOVE 6355.

NOW THE WEEKLY PIVOT IS 6422.
ALL THE CLOSE ABOVE 6422 ARE BULLS
AREA. THEY HAVE 6600 AND 6688 TARGETS.

BEARS CAN BREATH BELOW 6422.
BELOW 6422, BEARS HAVE 6333 AND 6244
AS TARGETS.

Buy Asian Paints with target price of Rs 510: Prakash Gaba

Asian Paints is a 'BUY' call with a target of Rs 510 and a stop loss of Rs 485.

Buy Alembic Pharma with target price of Rs 283: Prakash Gaba

Alembic Pharma is a 'BUY' call with a target of Rs 283 and a stop loss of Rs 260.

Buy United Spirits with target price of Rs 2600: Mitesh Thacker

United Spirits is a 'BUY' call with a target of Rs 2600 and a stop loss of Rs 2470.

Buy Coal India with a target of Rs 278: Sandeep Wagle

Buy Coal India at a target of Rs 278 and stop loss of Rs 261.

Buy Apollo Tyres with a target of Rs 144: Sandeep Wagle

Buy Apollo Tyres at a target of Rs 144 and stop loss of Rs 128.