Stock Tips And Nifty Tips For 23/08/2013

NIFTY OUTLOOK FOR 23/08/2013

BEARS PLAYED THE INNINGS AT OPENING HOURS.
AGAIN NIFTY TESTED 5266-5311 LEVEL.
THEN METAL AND STEEL STOCKS GET FIRE.
NIFTY CLOSES AT 5408.

USD/INR TRADING AT 64.93 AFTER MAKING
HIGH OF 65.56. RUPEE WILL GET STRONG
ONLY IF COMEX GOLD START TO RALLY.

THE TECHNICALS AS FOLLOWS,
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 YESTERDAY COMPLETED 61.8% TARGET
901POINTS AT 5327.

SO NIFTY MAY RECOVER FROM THIS 5266-5333
LEVEL. BUT IF NIFTY CLOSE BELOW 5311 ON
FRIDAY, MORE PAIN LEFT IN NEXT WEEK.

ON THE UP SIDE,
ONLY A CLOSE ABOVE 5488 CAN BRING
SOME BREATH TO THE BULLS.

Buy SAIL with a stop loss of Rs 43.70: Mitesh Thacker 

Buy Steel Authority of India (SAIL) with a stop loss of Rs 43.70 and look for a price target of Rs 47.

Buy JSW Steel with a stop loss of Rs 520: Mitesh Thacker 

Buy JSW Steel with a stop loss of Rs 520 and look for a price target of Rs 550.

Sell IndusInd Bank with a stop loss of Rs 354: Ashwani Gujral 

Sell IndusInd Bank with a stop loss of Rs 354 and look for a price target of Rs 336.

Buy JSPL with a target of Rs 245: Ashwani Gujral 

Buy Jindal Steel & Power with a stop loss of Rs 230 and look for a price target of Rs 245.