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

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Equity Buy/Sell (Technical View)  

Ø  The following are good in an otherwise weak market and could move up relatively fast as compared to the indices :

• Chambal Fert. > 106 ;
• Hero Motors > 2010 ;
• Petronet LNG > 173 .
• ICICI has support around 800 and can be bought near supports ;
• Ashok Leyland > 26/25 is also good for the short term.

COMMODITIES:

Ø  Gold has exceeded our target of 27000 and has also touched 28000. It is always a wise strategy to allow profits to run. Trailing stops should be had if it moves to 28500-29000.

Ø  Silver, as observed by us was ready for a breakout on the upside ( on 17/08). It has touched 66000 and could also surpass its earlier high of 74000. Risk averse traders can move stops to 60390 and long term investors can have stops around 59090.

Have strict stop losses