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

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Equity Buy/Sell (Technical View)  

Ø  We would, for the present, restrict ourselves at the broader index to see if indeed Nifty takes support around current levels. All frontline scrips, needless

to say, are crucially poised and we have to wait to see whether these take support.

Commodities:

Ø  Gold reacted 10% from its recent highs and has recovered more than 7% since. It is important to observe whether the all time high of around 28300 is taken out. If it happens ( on a closing basis), one can see gold touching perhaps even 30000-31000 followed by a reaction of 15-20%.

Ø  Silver has also gone up. It can also be expected to cross its earlier all time highs.

Have strict stop losses