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Equity Buy/Sell (Technical View)
Ø The following are good for the medium term . Investors are advised to watch Nifty for guidance and buy only above levels indicated :
- Bharat Forge > 340 ; Bharti > 400 ; Chambal Fert. > 85 ;
- DCB > 66 ;
ITC > 206 ; Kotak Bk. > 496 ; - M&M > 727 ;
NTPC >192/50 ; Rel Capital > 596.
Ø The following are for the short term :
o Arvind > 87 ( res. 90) ; Biocon > 366 ; Gail > 469/50 ;
o IDFC > 137 ;
o NIIT > 57 ;
o Power Fin. >196/50 ; Rajesh Exports > 109 ; Sesa Goa > 289 ;
o Baja Fin Serv. > 548. HDFC, HDFC Bk. reversed up as expected.
o Gitanjali Gems, CESC continue to look good though no accumulation is advised.
COMMODITIES :
Ø Gold as mentioned earlier crossed 22400 and as we write has touched 22899. A close above 22900 will take it to 23400-500. For long term investors an investment around 21600-700 levels would have given 5% return in just 13 days time.
Ø Silver also took a huge leap from its long term support level (49500) to 55840. It still has 60000 as its resistance.
Ø Investors would recall that we have been repeatedly advising that the long term outlook is very good and advised investment near long term support level.
Have strict stop losses
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