2 Nov 2011:: Equity Buy/Sell (Technical View):: IFCI research,

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Equity Buy/Sell (Technical View)

Ø  So far as Nifty remains above 5140-50 levels, any reaction is an opportunity to buy strong scrips - we have seen opportunities in a numberof scrips to trade like LIC Hsg Fin. (buy near 200-215 levels and sell near 240-245). Other scrips include HDFC Bk, HDFC, Reliance Ind. TCS, Titan, Tata Motors.

Ø  We would like to add two more scrips viz. Canara Bank and Bank Baroda.

Ø  It appears that correction (on a longer time horizon) is over in both of them. Risk averse investors can consider a stop near 400 in Canara Bk.

and 680 in Bank Baroda to take long positions or wait for an opportunity for a Rs.20-30 reaction to buy.

International Indices :

Ø  We had mentioned earlier that all global indices generally move in sync, although with some time lag. Our indices are also in tune with Dow Jones

and hence a watch on some of these indices become important.

Ø  Dow Jones, which had a good run in recent times is reacting in the past couple of sessions. It has very good support around 11600-11650 from

where it could bounce up. The upward momentum could continue so far as this level is held.

INR VS USD :

Ø  Rupee, as expected, has started weakening yet again .

COMMODITIES :

Ø  Copper ( MCX Nov.) has good support around 374-375. Buying near these levels with a stop at around 373/75 is a low risk strategy. As

we write, it is trading around 381/50.

Have strict stop losses