Stock Tips and Nifty Tips 07/08/2014

NIFTY OUTLOOK FOR 07/08/2014

BULLS ARE NOT ABLE TO SUSTAIN YESTERDAY
GAINS. BEARS STRIKE WITH THE HELP OF
GLOBAL TRENDS. SEE A CLOSE BELOW 7711
AT 7672.

NOW BELOW 7666 BEARS WILL GET MORE ACTIVE.
7622 IS THE NEXT SUPPORT FOR BULLS.
BELOW 7622 BEARS HAVE TARGET OF 74444.

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,
BULLS HAVE TO SEE A CLOSE ABOVE 7755
WHICH 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.

Buy Mahindra with a target of Rs 1300: Mitesh Thacker

"Mahindra is a 'BUY' call with a target of Rs 1300 and a stop loss of Rs 1250."

Sell Cipla with a stop loss of Rs 440.5: Mitesh Thacker

"Cipla is a 'SELL' call with a target of Rs 425 and a stop loss of Rs 440.5."

Nifty likely to touch 7800 mark; expect stock specific movement: Mitesh Thacker

"The Nifty will keep doing this range of about 7800 to about 7530-7550 on the downside. That is the kind of initial idea."

Buy Adani Enterprise with a target of Rs 485: Ashwani Gujral

"Adani Enterprise is a 'BT/ST' call with a target of Rs 485 and a stop loss of Rs 440."

Sell Idea with a stop loss of Rs 161: Ashwani Gujral

"Idea is a 'SELL' call with a target of Rs 147 and a stop loss of Rs 161."

Sell Apollo Tyres with a stop loss of Rs 178: Ashwani Gujral

"Apollo Tyres is a 'SELL' call with a target of Rs 166 and a stop loss of Rs 178."