NIFTY OUTLOOK FOR 14/07/2014

BUDGET WEEK GET OVER.
RESULT SEASON STARTED.

7807 SEEMS BIG BIG RESISTANCE.
NIFTY SHOW SOME FORM OF TREND REVERSAL.
7092, 6892 AND 6652 ARE THE RETRACEMENT TARGETS.

NOW THE WEEKLY PIVOT PLACED AT 7577.
BULLS HAVE TO SEE A CLOSE ABOVE 7622
FOR ANOTHER UP MOVE.

BEARS GETTING ACTIVE BELOW 7533.
7400 AND 7311 ARE THE WEEKLY TARGET FOR BEARS.

AS PER TECHNICAL,
NOW THE WEEKLY PIVOT IS 7577.
ABOVE 7622 BULLS CAN TARGET 7755 AND 7844.
BELOW 7533 BEARS CAN TARGET 7400 AND 7311.

Buy Lupin with a target of Rs 1100: Mitesh Thacker

"Lupin is a 'BUY' call with a target of Rs 1100 and a stop loss of Rs 788."

Sell HDFC Bank with a stop loss of Rs 828: Mitesh Thacker

"HDFC Bank is a 'SELL' call with a target of Rs 788 and a stop loss of Rs 828."

10-15 per cent upside still left in Infosys; could touch 3800 levels: Rajen Shah

"Infosys has posted good numbers and at about 18-19 times, the stock can go up to about Rs 3800."

Nifty might see sub-7280-7300 levels: Mitesh Thacker

"We could see sub-7300 levels 7280 is what I am looking at to be more precise. So there could be still more downside happening."

Sell Jain Irrigation with a stop loss of Rs 112: Ashwani Gujral

"Jain Irrigation is a 'SELL' call with a target of Rs 98 and a stop loss of Rs 112."

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