01 December 2010

Watch Nifty:: IFCI research, Dec 1st, 2010

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Watch Nifty
Ø  It was yet another day of gains for Nifty and Bank Nifty. While this is a good sign, we need confirmation by way of strong moves in the next couple of sessions and should also watch out for 5700 not being violated . As observed earlier, it is Bank Nifty that has led Nifty's reversal and are presently cautiously optimistic.
Ø   Nifty, if it were to consolidate from present levels, will have to garner support from Bank Nifty, Autos, Tech and healthcare sectors.
Ø   Nifty faces resistance at 5900 and then at 5950 ( +/- 10 pts.)

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