18 April, 2011:: IFCI research, Equity Buy/Sell (Technical View)

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Equity Buy/Sell (Technical View)

Ø  We give below a few scrips which continue to be good :

o   ACC, Bhushan Stl., Arvind, Biocon, BHEL, Canara Bk., Hero Honda, Dena Bk., Chambal Fert., Ambuja Cement, Havels, HDIL.

o   Arvind has strong resistance around 75 and if crossed on a closing basis, can touch 85-87.

o   Bhushan Stl. has resistance around 545 and on a cross over can touch 650.

o   Biocon has resistance around 380.

Ø  The following are good for accumulation :

o   Aban > 708 ; ABB > 828 ; ACC > 1140 ; Hero > 1855 or on reactions near 1775 ;

o   Bank Baroda > 1000 ; Canara Bk. > 658 ; Havels > 412; HDIL > 191/50 ; TVS Motors > 61.

o   Infosys has strong support around 2900. Long term investors can consider buying a portion near this level.

Ø  COMMODITIES :

o   Silver has almost touched its target of 65,000. Though it could move up a little more before reacting, we would advise partial profit booking and move the stop to a higher level near 58,750.

o   Gold may outperform silver from these levels as it still has a target of 23,000.

Ø  Rupee Vs $ :

o   It is in sideways mode in the short and medium term. It has strong support around 43/84. So far as this level is held, Rupee could weaken. Investors can therefore try longs on further reactions near 44 with stop at 43/79. The next support  is far away at 39/67.

Have Strict Stop Loss