Equity Buy/Sell (Technical View) Ø IFCI research,

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Equity Buy/Sell (Technical View)

Ø  Pharma sector recovered well. The following can be bought (only) above the levels indicated for the short term. Investors are also advised to book profits at regular intervals till  clarity emerges in Nifty :

o   Sun Pharma > 507 ;                          Biocon > 347 ;

o   Dr Reddy > 1547 ;                             Lupin > 456.

Ø  Oil sector and scrips like BPCL, Hind Petro, IOC continue to be good.

Ø  The following is good for the short term above levels indicated or near support levels:

o   Hindalco > 165/50 ( support ~ 129) ;           IDBI > 122 ( support ~ 115 & 105) ;

o   Bajaj Auto > 1430 ;                                           M&M - support ~ 615 & 585 ;

o   TVS Motors > 53/50 ;                                       Petronet LNG > 176/50.

COMMODITIES:

Ø  Gold has been moving up steadily as predicted. It has touched 24,674 on 06/08 trades. As mentioned earlier, it has the potential in this current rally to touch 26,000 ( subject to intermittent corrections). After this, we expect a steep correction of 15-20% before resumption of another rally. Those who have missed out this current rally are advised to wait for a steep correction before entering.

Ø  Silver has not moved well - in fact it has been volatile and triggered our stops too. However, we expect a break out in silver. Risk takers can try to re-enter this metal with stop near 56940. Other investors can wait to see it crossing 61000.

  

Have strict stop losses