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Equity Buy/Sell (Technical View)
Ø Fmcg, Pharma, Oil&Gas, Power, Tech and Metals are the sectors which look good and would help Nifty rally.
Ø The foll are good in medium term:
o Bata> 409(already recommended , accumulate), Biocon> 432, Cairn> 347, HLL> 321,RIL> 1085, Techm>755,Dabur>104.5, Cipla>383, Ranbaxy>614.
Ø The foll are good in short term:
o Bajajhind>125, Triveni>118, Bombay Rayon>212, cesc>381, Essaroil>144 Itc>179.5.
Ø Our views are sought for the foll scrips: Andhrabk, FederalBk, OBC, Union Bk.
Ø As we had mentioned, Banks are in corrective phase and still have not shown signs of strength. They could correct some more before an uptrend. Bknifty has to cross 12550 for signs of strengh. Or we have to wait for completion of the present reaction. This is true for almost all Bank scrips including frontliners.
o Andhrabk is weak in near term. It has supports around 137 and 125.
o Federal Bank supports are around 383,368. The scrip is also weak in short term.
o OBC has supports around 369 and 356.
o UnonBk Supports are around 303,275.
Ø Investors should wait and perhaps start making partial investments near the support levels indicated.
Have Strict Stop Loss
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