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Watch Nifty
Ø Nifty reacted and recovered as expected. The moot point is whether the reaction is over. One could conclude so only if Nifty crosses 6284 and Bank Nifty 12830. On the way up, the indices faces resistance around 6150 and 12580. If the indices are unable to cross these intermediate resistance levels, we can safely assume that there could be one more leg down before the much awaited rally.
Ø Nifty's resistance for 01/11/10 is likely around 6050-70.
Ø A few scrips recommended on 29/10 move up well like ICICI Bk., and Shriram Transport. Many scrips however did not trigger the buy levels.
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