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

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Equity Buy/Sell (Technical View)

Ø  The following scrips show short term momentum. It is advisable to book profits and have stops :

o   Biocon > 346 ;                  

o   Century Text. > 352 ;      

o   Hero Honda > 1780 ;                      

o   Hind Lever > 320 ;

o   ITC > 193.

COMMODITIES :

Ø  As we write, gold and silver have reacted sharply. We had earlier mentioned that commodities are in sideways mode.

Ø  Gold would gain strength only above 22860 and has strong support around 22200. Short term and medium term investors should try to buy near supports and sell near resistance till a clear signal of break-out either way.

Ø  Silver is moving in a wide range and has supports near 51750 and 49000. Resistance is around 60000 and a similar strategy to trading gold is advised.

Have strict stop losses