Daily Research Report 14 JULY 2014

Last week Nifty corrected with the Railway and Union Budget, After hitting a high of 7808 to 7447  correcting nearly 350 points, it may extend to further 150 points, about 7300 levels, and time wise the correction may be there for next 3 to 4 days , Consolidation is necessary before any big move, hence the side ways may take about one week extra , over all the next big move is expected say about 2 weeks later or at the end of the settlement, or begining of next month.

Resistance- 7620 will act as resistance , only a close above this level will signal the up move,


The Major weekly chart is still up and Day chart though it is showing down but the pattern show the correction and may start its up move. shortly.

IRB , SAIL , BHEL can be bought on dips for delivery.


IRB , SAIL , BHEL can be bought on dips for delivery.


SSLT Buy above 296,

IDEA buy aove 136,

CIPLA buy 435.

These Recommendations are based on TECHNICAL ANALAYSIS, THEORY, RESEARCH and NEWS. Due care has been taken while preparing these comments, no responsibility will be assumed by author for the consequences what so ever, resulting out of acting on these recommendations we are not responsible for any losses made by traders. The calls made herein are for informational purposes and are not recommendations to any person to buy or sell any securities. The information is derived from sources that are deemed to be reliable but its accuracy and completeness are not guaranteed. The above calls are based on the theory of technical analysis and news. The author does not accept any liability for the use of this column. Readers of this column who buy or sell securities based on the information in this column are solely responsible for their actions. Neither the author nor his company either trade or have position in any Call mentioned in this column.