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

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Equity Buy/Sell (Technical View)

Ø  We give below supports of some scrips :

• Auro Pharma ~ 155 ;                       Ashok Leyland ~ 45 ;                      Bata ( has started reacting) ~ 480 ;
• Bank Baroda ~ 795-800 ;               Canara Bk. ~ 465-70 ;                     HDFC ~ 625, 610 & 580 ;
• HDFC Bk. ~ 2200 ;                            Hindalco ~ 145 ;                               LIC Hsg. Fin. ~ 197,200 ;
• L&T ~ 1580,1480 ;                           Maruti ~ 1120 ;                                Ranbaxy ~ 480

• Reliance which has been in sideways mode for more than a year and a half has gone down below its long term support of 850-860. One more close below this level could bring down the scrip to 750 ( the level we expect to hold).Investors already long in the scrip can sell call options ( when 850 is violated)

Have strict stop losses