5/5/11: Equity Buy/Sell (Technical View) Ø IFCI research,

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Equity Buy/Sell (Technical View)

Ø  The following are good :

o    ABB > 896 ; Alok > 26/75 ; Arvind Mills > 75 ; Biocon > 371 ; BPCL > 667 ;

o   DCB >62/50 ( we had mentioned a reversal in this scrip a few days back) ;

o   ONGC > 316 ; KPIT > 169.

Ø   One can expect reversal in Sesa Goa, Parsvnath and LIC Hsg Fin.

Ø   COMMODITIES :

o   Silver ( July) Investors would want to know whether they can start buying after this reaction. Silver is yet to give a clear buy signal ( though a short term bounce up is expected). It has strong support around 54750 and then 51,600. We expect silver to take support around 54750 or even from a slightly higher level say, 56,000-58,000. The bottom cannot be however exactly predicted.

o    Traders who can stomach a stop around 54700 can consider buying a portion at the current levels ( 59500-60000) and again around 56000 .

Have Strict Stop Loss