17 August, 2011: Equity Buy/Sell (Technical View) IFCI research,

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Equity Buy/Sell (Technical View)  

Ø  We continue to give key support levels of frontline scrips - investors are advised to make purchases systematically near the support levels keeping in mind that Nifty when it reacts to 4700-4800 levels could also bring down the scrips which is why we advise partial investments at different support levels. This also will give an opportunity for short term and medium term investors to book profits when there is a pull back.

o   Axis Bk. - support ~ 1150 . 1040-50 ;         Biocon ~ 300 ;                                  BOB ~ 795 ;                       

o   Canara Bk. ~ 400 , 385 ;                             Ambuja Cement ~ 110 ;                    HDFC ~ 625 ,570-580 ;    

o   HDFC Bk. ~ 440-50 , 395-400 ;                   Hindalco ~130 ;                                Sesa Goa ~220 , 200 ;

o   Tata Motors ~ 670 ;                                    Tata Steel ~ 450 ;                             Yes Bk. ~ 270 , 235.

COMMODITIES:

Ø  Gold: As suggested, gold moved up quite sharply by more than Rs.500 and is poised to touch all time highs. We had already advised investors to have trailing stops which would help to allow profits to run.

Ø  Silver continues to be in sideways mode but looks ready for a big breakout ( on the upside?). We would advise investors to have stops in place as indicated earlier and wait for proof of breaking out of sideways mode.

Have strict stop losses