Stock Tips And Nifty Tips For 08/05/2014

NIFTY OUTLOOK FOR 08/05/2014

BEARS PLAY THE INNINGS FOR FULL DAY.
NIFTY GET SUPPORT FROM 6644-22 LEVEL.
THIS IS LOWER END OF THE 6822-6644 RANGE.

BULLS HAVE TO DEFEND 6622 ON CLOSING BASIS.
ANY CLOSE BELOW 6622 WILL LEAD NIFTY TO
6444-6466 LEVEL.

AS POSTED HERE,
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.

Time to accumulate IT at this point of time: Ambareesh Baliga 

"You can have another 5% or 7% correction further but then looking at longer term, it is time to start accumulating IT at this point of time."

Buy HPCL with a target price of Rs 367: Ashwani Gujral 

HPCL is a 'BUY' call with a target of Rs 367 and a stop loss of Rs 345.

Sell Infosys with a target price of Rs 2,990: Ashwani Gujral 

Infosys is a 'SELL' call with a target of Rs 2,990 and a stop loss of Rs 3,075.

Sell HCL Tech with a target price of Rs 1,320: Mitesh Thacker  HCL Tech is a 'SELL' call with a target of Rs 1,320 and a stop loss of Rs 1,352.

Buy IRB Infra with a target price of Rs 125: Mitesh Thacker 

IRB Infra is a 'BUY' call with a target of Rs 125 and a stop loss of Rs 120.

...........................................................................

Buy Reliance Industries on dips: Ambareesh Baliga 

"I have been quite bullish on Reliance Industries for a while and even at these levels I just hold on that is one of the few stocks."