3 May 2011: Equity Buy/Sell (Technical View) IFCI research

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Equity Buy/Sell (Technical View)

Ø  As we had mentioned, we should look for support levels to invest in front line scrips. Investors would recall we had mentioned supports for quite a few scrips. For example, HDFC has supports around 685, HDFC Bk ~ 2245, LIC Hsg ~ 215, 197, Auropharma 180, ACC ~ 1080, Axis Bk. ~ 1150, M&M  ~ 690-700 to mention a few.

Ø   We had mentioned Chambal Fert. and DCB to reverse up in a session or two. Chambal had reversed in today's trade.

Ø   The following  are good :

o    Chambal > 90, Gitanjali Gems >276, Indian Bk.> 249, IOB >165/50.

Ø   COMMODITIES :

o   Silver ( July) had reacted sharply and recovered more than 4,000 pts. as we write. It never gave us an opportunity to go long as it opened with a downward gap. The trend is a little unclear at present. Investors should wait patiently till a clear trend emerges.It is in a huge sideways mode between 74,600 to 65,700.  Die hard traders can take trades near the boundaries with small stops.

o   Gold looks steadier. It still has to reach its target of 23000. investors can hold longs with stops indicated on 02/05.

Have Strict Stop Loss