NIFTY OUTLOOK FOR 06/05/2014

NIFTY CLOSES FLAT ON MONDAY.
GLOBAL TRENDS PULLING DOWN.
DOMESTIC NEWS FLOWS GIVING SOME HOPES.

REST REMAIN SAME AS FOLLOWS,
ELECTIONS GETTING COMPLETES ON 12/05/2014.
EXIT POLL RESULTS EXPECTED AFTER 6PM,
ON 12/05/2014. REAL RESULTS ON 16/05/2014.

BEARS ARE PLAYING THE INNINGS.
NIFTY TRADING NEAR THE LOWER END OF THE
6644-6822 RANGE. A CLOSE BELOW 6644
CAN LEAD NIFTY TO 6466.

6711 IS THE WEEKLY PIVOT.
BULL NEED A CLOSE ABOVE 6711 TO APPLY
BREAK ON BEARS MOVE AND A CLOSE ABOVE
6755 TO FURTHER UP MOVE TOWARDS 6888.

MARKETS ARE LEAD BY NEWS FLOWS AS
BIG ELECTION IS GOING ON.
TAKING MINIMUM POSITION IS GOOD FOR TRADERS.

WEEKLY PIVOT IS 6711.
ABOVE 6755, BULLS CAN TARGET 6800 AND 6888.
BELOW 6666, BEARS CAN TARGET 6622 AND 6533.

Buy Adani Enterprises Ltd with a target of Rs 446: Ashwani Gujral

Adani Enterprises Ltd is a 'buy' call with a target of Rs 446 and a stop loss of Rs 424.

Buy Bank of Baroda with a target of Rs 845: Ashwani Gujral

Bank of Baroda is a 'buy' call with a target of Rs 845 and a stop loss of Rs 800.

Reliance is heading to levels closer to 970, stop below 940: Prakash Gaba

Reliance is heading to levels closer to 970, stop below 940.

Buy around 6,650 and you take profits at about 6,750: Ashwani Gujral

For the moment for the next four odd days, it will be up and down action so you buy around 6650 and you take profits at about 6750, do not play for breakouts.

Buy Mangalore Refinery And Petrochemicals Ltd with a target of Rs 70: Sandeep Wagle

Mangalore Refinery And Petrochemicals Ltd is a 'buy' call with a target of Rs 70 and a stop loss of Rs 59.