20 June, 2011: Equity Buy/Sell (Technical View) IFCI research,

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Equity Buy/Sell (Technical View)

Ø  We had mentioned earlier that Titan's immediate target is around 4900. One can accumulate the stock above 4630. Glaxo can be accumulated above 2490.

Ø  The following are good in the short term :

o   Bharti > 384 ;

o   Indian Bk. > 226 ;

o   IOC > 338 ;

o   NIIT > 56/50.

COMMODITIES :

Ø  Gold is moving sideways presently and can be expected to break out. While gold has been steady, it needs to cross 22860 for strength. It has strong support around 22200. Aggressive traders can go long with stops near support. Others can wait for a break out sign. For long term investors, stop is around 21600.

Ø  Silver is also moving sideways in a wide range. Long term investors can hold with stops around 49500. It exhibits strength only on crossing 60000. However, aggressive short term traders can try longs with stop around 51750. We repeat that there is no clear sign of a breakout as yet and we are basically bottom fishing with tight stops. It could also be a good idea to buy on reactions near stop level.

Have strict stop losses