NIFTY OUTLOOK FOR 07/05/2014

AGAIN A FLAT TRADING DAY.
NIFTY CLOSES JUST ABOVE PIVOT 6715.
VOLUME GETTING LOWER.

6711 IS THE WEEKLY PIVOT.
BULL SEE A CLOSE ABOVE 6711 AND APPLY
BREAKS ON BEARS MOVE AND A CLOSE ABOVE
6755 NEEDED TO FURTHER UP MOVE TOWARDS 6888.

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.

Buy Reliance with a target price of Rs 985: Ashwani Gujral

Reliance is a 'BUY' call with a target of Rs 985 and a stop loss of Rs 960.

Buy PFC with a target price of Rs 210: Ashwani Gujral

PFC is a 'BUY' call with a target of Rs 210 and a stop loss of Rs 190.

Buy Tata Motors with a target price of Rs 440: Ashwani Gujral

Tata Motors is a 'BUY' call with a target of Rs 440 and a stop loss of Rs 415.

Buy on declines towards 6680-6700: Ashwani Gujral

If CNX stops falling chances are Nifty gets pulled up with energy and the banks. So, the idea should be to buy on declines towards 6680-6700.

Buy BHEL with a target price of Rs 185: Prakash Gaba

BHEL is a 'BUY' call with a target of Rs 185 and a stop loss of Rs 179.

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Buy REC with a target of Rs 274: Mitesh Thacker

REC is a 'BUY' call with a target of Rs 274 and a stop loss of Rs 245

NSE STOCKS