Stock Tips and Nifty Tips 06/08/2014

NIFTY OUTLOOK FOR 06/08/2014

BULLS SEE A CLOSE ABOVE 7711 AT 7746,
AFTER VOLATILE MOVES. ANY CLOSE ABOVE
7755 WILL BRING MARKET IN TO THEIR CONTROL.

ABOVE 7755 BULLS CAN MOVE TOWARDS 7888.
ON THE DOWNSIDE, BEARS HAVE TO SEE A
CLOSE BELOW 7666 FOR FURTHER DOWN MOVE.

NIFTY MADE A HIGH 7808 AND SLIP TO THE
LOW 7422 ON 04/07. THEN MADE A HIGH 7840
ON 25/07. NOW STARTED FOR CORRECTION.
IF THIS DOUBLE TOP PATTERN WORKS, THEN
BEARS HAVE THE TARGET AT 7004.

NOW THE WEEKLY PIVOT IS AT 7711.
7444 IS THE NEXT TARGET FOR BEARS.

ON THE UPSIDE,
A CLOSE ABOVE 7755 CAN BRING MORE GREEN.

AS PER TECHNICAL,
NOW THE WEEKLY PIVOT IS 7711.
ABOVE 7755 BULLS CAN TARGET 7888 AND 7977.
BELOW 7666 BEARS CAN TARGET 7533 AND 7444.

Tata Chemicals a good bet for investors: Rajen Shah, Angel Broking

' We have picked up the stock a couple of weeks back and at around 320-325 range, we believe the worst is over for Tata Chemicals.'

Essel Propack looks promising; could give 30-35% upside over next 6 months: Rajen Shah

'They should report about Rs 8 earnings. Internationally, all these packaging companies trade at about 15-17 PE multiples.'

Buy Apollo Tyres with a target of Rs 192: Ashwani Gujral

'Apollo Tyres is a 'BUY' call with a target of Rs 192 and a stop loss of Rs 178.'

Buy UltraTech with a target of Rs 2650: Ashwani Gujral

'UltraTech is a 'BUY' call with a target of Rs 2650 and a stop loss of Rs 2500.'

Buy Havells with a target of Rs 1250: Ashwani Gujral

'Havells is a 'BUY' call with a target of Rs 1250 and a stop loss of Rs 1170.'.