NIFTY OUTLOOK FOR 21/08/2013

BEARS VISITED PANIC DESTINATIONS
5355 AND 5311 AT THE OPENING HOUR.
WITH LITTLE PULLBACK NIFTY
CLOSES AT 5400.

USD/INR TRADING AT 63.25 AFTER
TOUCHING THE PEAK 64.20.

THE WAVE STARTED FROM THE LOW 4770
ON 04/06/2012, RALLY 1459 POINTS
AND MADE HIGH AT 6229 ON 20/05/2013.

NOW THE CORRECTION WAVE FOR ABOVE
RALLY TODAY COMPLETED 61.8% TARGET
901POINTS AT 5327.

SO NIFTY MAY RECOVER FROM THIS 5311-33
LEVEL. SLIPPING BELOW 5311 WILL TELLS
US MORE PAIN LEFT.

ONLY A CLOSE ABOVE 5488 CAN BRING
SOME BREATH TO THE BULLS.

Buy Cairn India with a price target of Rs 317: Mitesh Thacker

Buy Cairn India. It has done extremely well in a market which has been falling.

Buy Bajaj Auto with a stop loss of Rs 1730: Mitesh Thacker

Buy Bajaj Auto. The stock is now bouncing back again today from Rs 1740 levels.

Sell HCL Tech with a stop loss of Rs 914: Mitesh Thacker

Sell HCL Technologies around Rs 902 with a stop loss of Rs 914 and look for a price target of Rs 880.

Buy Hindustan Zinc with a target of Rs 121: Ashwani Gujral

Buy Hindustan Zinc with a stop loss of Rs 109 and look for a price target of Rs 121.

Sell ONGC with a target of Rs 238: Ashwani Gujral

Sell Oil And Natural Gas Corporation with a stop loss of Rs 257 and look for a price target of Rs 238.

Sell Hexaware Tech with a target of Rs 106: Ashwani Gujral

Sell Hexaware Technologies with a stop loss of Rs 118 and look for a price target of Rs 106.

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