Stock Tips and Nifty Tips 23/07/2014

NIFTY OUTLOOK FOR 23/07/2014

BULLS SEE A CLOSE WELL ABOVE 7711 AT 7767.
SO THE H&S PATTERN FORMED IN THE
NIFTY DAILY CHART ALL MOST TERMINATED.
ANY CLOSE BELOW 7688 WILL BRING LIFE
TO H&S PATTERN.

THEN, BREAKING BELOW 7422 WILL LEAD NIFTY
TO 7044-66 LEVEL. BULLS HAVE TO SEE A CLOSE
ABOVE 7711 IN THIS WEEK AHEAD TO TERMINATE
THIS VIEW.

NOW THE WEEKLY PIVOT MOVED TO 7688.
SO ABOVE 7733 BULLS CAN MOVE TOWARDS 7866.

ON THE DOWNSIDE,
BEARS HAVE TO SEE A CLOSE BELOW 7644.
FOR ANOTHER DOWN MOVE. THEN,
THEY CAN MOVE TOWARDS 7422.

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

AS PER TECHNICAL,
NOW THE WEEKLY PIVOT IS 7688.
ABOVE 7733 BULLS CAN TARGET 7777 AND 7866.
BELOW 7644 BEARS CAN TARGET 7533 AND 7422.

Nifty unlikely to go below 7680: Sandeep Wagle

Any move towards 7720-7700 cash Nifty should be used to buy and for target of 7800-7810. I do not see the Nifty go below 7680 that can be a safe stop loss.

Buy Bharti Airtel with a target of Rs 365: Mitesh Thacker

"Bharti Airtel is a 'BUY' call with a target of Rs 365 and a stop loss of Rs 348."

Buy Dr Reddy's with a target of Rs 2,800: Mitesh Thacker

"Dr Reddy's is a 'BUY' call with a target of Rs 2,800 and a stop loss of Rs 2,660."

Sell HDIL with a target of Rs 86: Sandeep Wagle

"HDIL is a 'SELL' call with a target of Rs 86 and a stop loss of Rs 94."

Buy Tata Motors with a target of Rs 492: Sandeep Wagle

"Tata Motors is a 'BUY' call with a target of Rs 492 and a stop loss of Rs 475."