NIFTY OUTLOOK FOR 09/06/2014

BULLS MADE A CLOSE ABOVE 7555-7577 LEVEL.
AS 7556 IS THE HIGH MADE ON 16/05/2014,
CLOSE ABOVE 7577 IS IMPORTANT FOR BULLS.
THEY CAN MOVE TOWARDS NEW HIGHS.

NIFTY ALSO FORMING TRIPLE TOP PATTERN
IN HOURLY CHART. SO CAUTION NEEDED
AT 7488-7577 LEVEL.

NOW THE WEEKLY PIVOT PLACED AT 7466.
ALL THE CLOSES ABOVE 7466 ARE BULLS AREA.
BULLS CAN MOVE TOWARDS 7644 AND 7733.

BEARS CAN BREATH AFTER A CLOSE BELOW 7422.
THEN THEY CAN MOVE TOWARDS 7288 AND 7200.

BUT AS THE MOMENTUM COMING DOWN,
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.

AS PER TECHNICAL,
NOW THE WEEKLY PIVOT IS 7466.
ABOVE 7511 BULLS CAN TARGET 7644 AND 7733.
BELOW 7422 BEARS CAN TARGET 7288 AND 7200.

Buy HDFC with a target of Rs 960: Ashwani Gujral

"HDFC is a 'BUY' call with a target of Rs 960 and a stop loss of Rs 920."

Buy Bata with a target of Rs 1250: Mitesh Thacker

"Bata is a 'BUY' call with a target of Rs 1250 and a stop loss of Rs 1209."

Buy Future Retail with a target of Rs 925: Mitesh Thacker

"Future Retail is a 'BUY' call with a target of Rs 150 and a stop loss of Rs 135."

Buy Adani Ports with a target of Rs 262: Ashwani Gujral

"Adani Ports is a 'BUY' call with a target of Rs 262 and a stop loss of Rs 245."