9 May, 2011: Equity Buy/Sell (Technical View) IFCI research,

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Equity Buy/Sell (Technical View)

Ø  The following scrips are good :

o   ABB > 900 ; Amtek Auto > 153/50 ; Havels India > 391 ; Hero Honda > 1786 ; M&M > 724 ; Tata Motors > 1214.

Ø  The following are for the short term :

o   Deccan Aviation > 46 ; Hind Lever > 279 ; Indian Bk. > 242.

Ø  COMMODITIES :

o   Silver: Silver pierced the 54750 mark and took support around the next level of 51650 ( low was 51970) and bounced up to re-test 55500. As maintained earlier, we still do not have a buy signal as yet. We are basically trying to bottom fish. We would also like to state that there is no reversal signal either for silver. Long term investors could invest near 41500 which is a very strong support. Medium & short term investors could either wait for a buy signal or have stops at 51500. We would however advise profit booking at regular intervals and have trailing stops.

o   Gold: Gold seems steadier of the two. Gold has strong support around 21050 and investors can try longs nearer 21100 with stops at 21000. Short term traders can try longs at current levels ( 21740) with stops at 21600.

Have Strict Stop Loss