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Nifty Outlook:

Last week we had raised our bets on a breakout beyond 14400- 15000 range, and had maintained the upside bias as the week drew to a close. This week, Nifty is poised to break 15043, the recent peak as well as the upper extremity of the declining parallel trendline that has been in play since February. Such a breakout should ideally lead to vertical rise to 15660-15850 right away, but we will have watchful eyes on the nearest peak Target Stoploss S2 S1 PV R1 R2 56 - 59 51 51 53 54 55 56 515 - 524 503 498 504 508 515 519 504 - 515 488 484 489 497 502 510 950 - 962 927 928 935 946 952 963 Traders' corner Gravestone doji formed. Inverted pinbar doji. Bounce from rising trendline support Inverted hammer. * Recommendations are for 5 day holding period Notes APLLTD SUNTV RAJESHEXPO FLFL Stocks Buy at open or on dips to 935 Buy at open or on dips to 490 Buy at open or on dips to 508 Buy at open or on dips to 53 Actionable ideas right away, but we will have watchful eyes on the nearest peak of 15333 as well as the record peak of 15431, for their ability to play spoilsport. Meanwhile, inability to float above 14890/70 after the firm opening, could lead to consolidation with a negative bias, but we would retain the hopes of upside breakout as long as 14600 holds.

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