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

Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

Equity Buy/Sell (Technical View)

Ø  We had already mentioned supports of various scrips. Investors are advised to go long near supports.

Ø  The following are good for the short term :

• Bombay Rayon > 284                                                                   Dr. Reddy > 1560.

Ø  The following are for the medium term :

• Raymond > 395 (resistance ~ 405-407);                                  HDFC Bk. > 497 (support ~ 472 & 465).

INTERNATIONAL INDICES :

Ø  Dow Jones has crossed and closed above its crucial resistance of 11650. One more session of staying above this would mean that this index is in the initial phase of a bull run with higher targets in store.

CURRENCY :

Ø  INR VS USD :  Rupee had touched 50/40 in Friday's session. We are of the view that its next target is 51 and then 52. One could however see some steep corrections before these targets are achieved.

COMMODITIES :

Ø  While gold and silver continue to be directionless, those who are willing to take risks can go long near stops at 315 in copper. An opportunity was presented when it reacted to 339 recently.

Have strict stop losses