Stock Tips and Nifty Tips 06/06/2014

NIFTY OUTLOOK FOR 06/06/2014

BULLS JUMP OVER THE LEVEL 7422-7444.
NEXT TARGETS ARE 7488 AND 7577.
DOUBLE TOP FORMATION SEEN IN DAILY CHARTS.

NOW THE WEEKLY PIVOT MOVES TO 7400.
ALL THE CLOSES ABOVE 7400 ARE BULLS AREA.
MORE UPSIDE SEEN ABOVE 7444 TREND LINE.
BULLS CAN MOVE TOWARDS 7488 AND 7577.

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 7400.
ABOVE 7444 BULLS CAN TARGET 7488 AND 7577.
BELOW 7355 BEARS CAN TARGET 7266 AND 7177.

Buy India Cements with a target of Rs 127: Ashwani Gujral  India Cements is a 'BUY' call with a target of Rs 127 and a stop loss of Rs 112. Buy Cairn with a target of Rs 382: Ashwani Gujral  Cairn is a 'BUY' call with a target of Rs 382 and a stop loss of Rs 360. Buy Hind Petroleum with a target of Rs 456: Ashwani Gujral  Hind Petroleum is a 'BUY' call with a target of Rs 456 and a stop loss of Rs 430. Buy Bata with a target of Rs 1240: Mitesh Thacker  Bata is a 'BUY' call with a target of Rs 1240 and a stop loss of Rs 1160. Buy Cairn with a target of Rs 373-375: Mitesh Thacker  Cairn is a 'BUY' call with a target of Rs 373-375 and a stop loss of Rs 354.

Buy Reliance Communication with a target of Rs 155: Mitesh Thacker 

RComm is a 'BUY' call with a target of Rs 155 and a stop loss of Rs 144.

Buy Aditya Birla Nuvo with a target of Rs 1415: Mitesh Thacker 

Aditya Birla Nuvo is a 'BUY' call with a target of Rs 1415 and a stop loss of Rs 1384.