14 Oct, 2011: Equity Buy/Sell (Technical View) IFCI research,

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Equity Buy/Sell (Technical View)

Ø  The foll are good for near term (1-3 sessions). Buy only above the price indicated and have stops in place:

o   Deccan aviation>24,                       Escorts>79.50,

o   Hotel Leela>38,                               J&K bk>807,

o   orchid>175,                                      Riil>415,                            

o   Unionbk>257.

o   Icici>892,    Kotakbk>480,    Tatasteel>460 are good for medium term.

o   Lichsgfin above 238 is good. However it faces resistance around 245-247 and then near 255. Investors who have already bought the scrip can book

o   partial profits near resistance and re-enter on reactions.

o   RIL had resistance around 860. If it is crossed, its next target is 900.

Rupee Vs USD:

 

Ø  Rupee had started weaking against USD as envisaged. It should cross 49.50 for targets of  50, 51.

Commodities:

 

Ø  Gold touched 27000 but had closed below 26900. We have to wait for conclusive proof before initiating longs.

 

Have strict stop losses