4 July, 2011: Equity Buy/Sell (Technical View) IFCI research,

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Equity Buy/Sell (Technical View)

Ø  Alongwith Nifty, Tech, FMCG and Capital Goods (led by L&T) look good. The following sectors look ready for a break-out :

o   Metals, Auto and Power.

Ø  The following gain strength from a medium term horizon if the indicated levels are crossed :

• Cummins > 725 ;                              HDFC > 718 ;                      HDFC Bk. > 2555 ;
• L&T > 1856 ;                                     TCS > 1208 ( resistance near 1250) ;
• Yes Bk. > 322 ;                                  Arvind > 83/50 . ;              SBI > 2440 ; 
• R Com > 101 ;                                   Reliance Cap. > 591.

Ø  The following are good for the short term :

o   Alok Ind. > 26/25 ;                           Biocon > 367 ;                   Hindalco > 189.

COMMODITIES :

Ø  Both Silver and Gold have violated their short term supports and have also touched their long term supports (silver 49000 and gold 21600).

Ø  While we can reiterate that in the long term these commodities will see new highs, in the short term we can see weakness if 49000 / 21600 are violated in silver/gold. Risk averse can keep stops below 49000/21600.

Have strict stop losses