4 NOV, 2011: Equity Buy/Sell (Technical View) IFCI research,

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Equity Buy/Sell (Technical View)

Ø  Many scrips have gone up along with Nifty and the following are good for buying/accumulating :

o   DLF > 250 ;                         Dr. Reddy > 1655 ;                           PFC > 169 ;

o   Rajesh Expo > 153 ;          SBI > 1950 ;                                       India Cem. > 82 .

o   Canara Bk and Bank Baroda have moved up well.

o    Axis Bk. has touched 1100 before moving up.

Ø  The following are good for the short term :

o   BEML > 539 ;                     BHEL > 334 ;                                     Shriram Transport > 607/50 ;

o   JSW Steel > 680 ;              Idea > 98/50 ;                                   Indian Hotels > 73 ;

o   Sun TV > 278/50.

INTERNATIONAL INDICES :

Ø  It may be recalled that on 02/11, we had mentioned that Dow Jones could bounce up from 11600-11650. It had indeed touched 11630 before moving up. The uptrend is intact so far as the recent lows are held (10400).

Have strict stop losses