NIFTY OUTLOOK FOR 02/06/2014

ON THURSDAY INFY TAKES A HUGE HIT.
ON FRIDAY BANK NIFTY SLIP DOWN 300POINTS.
NIFTY CLOSES AT 7229 WELL BELOW THE
WEEKLY PIVOT 7311.

TECHNICAL TELLS US SOME CORRECTION
IS ON THE WAY. THIS IS THE CORRECTION FOR
THE IMPULSIVE WAVE FROM 5118(28/08/2013)
TO 7563(19/05/2014) 2445POINTS.

6630, 6340, AND 6051 ARE THE FIBONACCI
RETRACEMENTS TARGETS. RBI BI-MONTHLY
STATEMENT ON TUESDAY.

AS PER TECHNICAL,
NOW THE WEEKLY PIVOT IS 7311.
ABOVE 7355 BULLS CAN TARGET 7488 AND 7577.
BELOW 7266 BEARS CAN TARGET 7133 AND 7044.

Sell Bank Nifty with target price of Rs 14,630-14,650: Sandeep Wagle

Bank Nifty is a 'SELL' call with a target of Rs 14,630-14,650 and a stop loss of Rs 15,000.

Buy Auro Pharma with target price of Rs 675: Ashwani Gujral

Auro Pharma is a 'BUY' call with a target of Rs 675 and a stop loss of Rs 650.

Buy Tech Mahindra with target price of Rs 1950: Ashwani Gujral

Tech Mahindra is a 'BUY' call with a target of Rs 1950 and a stop loss of Rs 1885.

Sell Bank of India with target price of Rs 300: Ashwani Gujral

Bank of India is a 'SELL' call with a target of Rs 300 and a stop loss of Rs 318.

Buy Gujarat Pipavav Port with target price of Rs 138: Sandeep Wagle

Gujarat Pipavav Port is a 'BUY' call with a target of Rs 138 and a stop loss of Rs 114.

Buy Dr Reddy's Lab with target price of Rs 2510: Sandeep Wagle

Dr Reddy's Lab is a 'BUY' call with a target of Rs 2510 and a stop loss of Rs 2410.

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