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Nifty Outlook:

The downside gapped opening yesterday, was not followed up by any more cuts, with the 14755 region offering buying interest on anticipated lines. But the rise thereafter has not inspired any confidence towards directional upsides today. The present structure still allows for dips to 14755 region again. We will now look for either a close above 14830 or a dip inside the 14740-600 region before riding the upside Target Stoploss S2 S1 PV R1 R2 1130 1054 987 1032 1060 1105 1133 1048 989 941 976 996 1030 1050 368 - 377 346 324 341 352 369 380 1850 1765 1695 1743 1772 1821 1849 Traders' corner Breaks above declining trendline. MACD exhaustion seen. Range breakout MACD exhaustion seen. * Recommendations are for 5 day holding period Notes IRCTC BDL VOLTAS APOLLOPIPE Stocks Buy at open or on dips to 1782 Buy at open or on dips to 354 Buy at open or on dips to 1000 Buy at open or on dips to 1069 Actionable ideas dip inside the 14740-600 region before riding the upside breakout move past 15040. Alternatively, slippage past 14600 would confirm a topping pattern near the 14960s, reopening chances of 13800, which for now, remains a less favoured outcome.

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