Stock Tips and Nifty Tips 01/07/2014

A VIEW ON NIFTY SPOT FOR 1ST JULY2014 AND THE WEEK AHEAD

Nifty opened at 7534 well above it’s support of 7507. We had mentioned yesterday that “The final count stood at 5708 as a weekly close. It has closed above the important 7507 and hene augurs for hope and a bounce.”. Our stance proved right. From an open at 7534 and low at 7531.60 it made a double bottom on the intra-day charts and kept scaling the resistance zone one by one. It however fell short of 7625 by a mere 1.35 points nd then fell back to close just below the crucial 7612. This close gives the feeling that we might again see a gap open tomorrow.Nifty is now in a weekly break-out range and the weekly resistances are placed at 7612-7625-7656. On the upside if we see a breakout above 7625, it faces the litmus test at 7666 and then come 7683.15, frontier 7700 and the daunting 7748.

Going forward the band of 7507-7482-7464-7442-7394 is a good cluster of supports”.

Buy Tata Power with a target of Rs 115: Mitesh Thacker 

"Tata Power is a 'BUY' call with a target of Rs 115 and a stop loss of Rs 105."

Buy Tata Communication with a target of Rs 405: Mitesh Thacker 

"Tata Communication is a 'BUY' call with a target of Rs 405 and a stop loss of Rs 380."

Market might see breakout if Bank Nifty gets past 15,550: Mitesh Thacker 

"If the Bank Nifty starts getting past 15,550, we might even look at a breakout happening on the Nifty itself. So this range could then be clearly getting over."

Buy UCO Bank with a target of Rs 115: Ashwani Gujral 

"UCO Bank is a 'BUY' call with a target of Rs 115 and a stop loss of Rs 100."

Buy Reliance Infra with a target of Rs 810: Ashwani Gujral 

"Reliance Infra is a 'BUY' call with a target of Rs 810 and a stop loss of Rs 750."

Buy ONGC with a target of Rs 442: Ashwani Gujral 

"ONGC is a 'BUY' call with a target of Rs 442 and a stop loss of Rs 418."