14 October 2010

IFCI research: Nifty watch Oct 14th

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Watch Nifty
Ø  Nifty made a huge reversal up as envisaged and also reached its first target of 6220 & 6250 in a single session.   Bank Nifty also made a significant move up. Both the indices are expected to move up further before reacting. Nifty's immediate target is around 6300.
Ø   Nifty's resistance for 14/10 is likely near 6300.
Ø   Intraday, we had recommended buys near 6085 levels - Nifty touched 6090 before taking off and giving 140 points.

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