28 Oct, 2011: Equity Buy/Sell (Technical View) IFCI research,

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Equity Buy/Sell (Technical View)

Ø  We had identified cement and auto sectors quite some time back, even when Nifty was gyrating wildly. Both of them continue to do well.

Ø  The following are good for accumulation:

o   ACC > 1200 ;                      Ambuja Cem > 156/50 ;                   Grasim > 2510 ;

o   India Cements > 81 ;         M&M > 861 ;                                    Tata Motors > 195/50 ;                 

o  Hero > 2115.

Ø  Other scrips which can be accumulated  are :

o   Bombay Dyeing > 425 ;     Gitanjali > 382 ;                                ICICI > 894 ;

o   Infosys > 2910 ;                 Kotak > 506 ;                                    Reliance Ind. > 885 ;

o   TCS > 1115.

Ø  The following are for short term :

o   Ashok Leyland > 26/50 ;     Biocon > 370 ;                                   Cipla > 297 ; DLF > 235 ;

o   Hind Lever > 347 ;              IDBI > 109 ; IDFC > 131 ;                   Maruti > 1165 ;

o   ONGC > 280 ;                     Ranbaxy > 516 ;                                 Tata Steel > 458.

International Indices:

Ø  Dow Jones had closed well above 11600-700 which will provide solid support. So far as 11600 is not violated, we will see the upward momentum continue. We can assume that the correction will be over so far as 11600 is held.

Commodities :

Ø  Gold and Silver have both moved past 26900 and 54500 respectively (during 27/10 trades) and can be expected to close above it. Both the precious metals have moved to positive territory. Those who have missed the rally can buy near 27000 in gold and 54500 in silver with small stops.

Ø  Copper has moved up well and can be accumulated above 400.

Have strict stop losses