19 Sept 2011: Equity Buy/Sell (Technical View) IFCI research,

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Equity Buy/Sell (Technical View)

Ø  It is to be noted that except auto index ( mainly due to Hero Motors, Bajaj Auto and recently Tata Motors), all other indices do not look strong and perhaps could weaken with Nifty.

Ø  The following are good :

o   Parsvnath > 67/25 ;          Omaxe > 141/25 ;             Rajesh Expo > 127/50 ;

o   Tata Invest. > 544 ;          Siemens > 876 ;                 Bajaj Fin. Serv. > 577 ;                  

o   Shriram Transport > 687.

Ø  The following are short term picks and traders are advised to watch for Nifty's direction:

o   Bombay Dyeing > 356 ;   Central Bk. > 107 ;            Dena Bk. > 85/50 ;

o   Dr. Reddy > 1540 ;            J&K Bank > 886 ;               NTPC > 175 ;                                    

o   Fin. Tech > 879.

COMMODITIES:

 

Ø  Gold and silver continue to be sideways and any attempt to tighten the stops have not worked. Silver is range bound between 62,000-66,000 and gold between 26,500-28,500. We have to watch for a break out on a closing basis to accumulate. However, long term investors can continue with longs since the bias is still positive.

CURRENCIES:

 

Ø  Rupee had not been able to close above 47/75 conclusively. While it will attempt to cross this level yet again, we have to wait.

 

Have strict stop losses