23 November 2010

Watch Nifty: IFCI research: 24th Nov 2010

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Watch Nifty
Ø  Nifty made a sharp recovery, as was anticipated, along with Bank Nifty. However, we have to wait to see if the reaction is over and recovery has started. A small, but significant, proof would be when Nifty is able to cross (on a closing basis) 6160 levels and Bank Nifty 12850. Till then, there cannot be a clear confirmation of the direction.
Ø  Nifty's resistance for 23/11 continues to be 6070 ( +/- 10 pts.).
Ø  All scrips ( except Chambal Fert.) recomended on 22/11 had moved up along with Nifty

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