15 Sept, 2011: Equity Buy/Sell (Technical View) IFCI research,

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Equity Buy/Sell (Technical View)

Ø  The following scrips can be accumulated above the levels indicated:

o   Bata > 677 ;                       Chambal Fert. > 112/50 ;                              Grasim > 2240 ;

o   Bajaj Auto > 1650 ;           M&M > 808 ;                                                   Omaxe > 140/50 .

Ø  The following are for the short term:

o   Lupin > 483/50 ;                               ONGC > 263 ;

o   Rajesh Expo > 116/50 ;                   Sun Pharma > 496.

 

CURRENCY: Rupee vs USD

 

Ø  Rupee weakened below 47/75 mark but closed at around the same level. Though the momentum is positive, we would wait for it to close above, in which case the targets are 48/50, 49 and eventually 52.

 

COMMODITIES:

 

Ø  Both Gold and Silver continue to be sideways. The nearest support for gold is around 27650 and silver about 63500. Risk averse can trail stops around 27600 and 63400. Medium term investors can buy near supports with tight stops.

Have strict stop losses