IFCI research, Watch Nifty - 10/2/11

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Watch Nifty

Ø  Nifty sliced through 5300 to touch 5225. The close was marginally above 5250. A short term upmove looks imminent. At this stage, however, one has to watch closely for any long term trend reversal signs. We continue to believe that these are attractive levels for investments in some scrips from a fundamental view point too.

Ø  Nifty's support for 10/02 is expected around 5200. We advise investors to buy frontline scrips at the support levels indicated by us.