18 February 2011

IFCI research, Watch Nifty - 18 Feb 2011

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Watch Nifty
Ø  Nifty continued its journey up. It has closed marginally below the crucial 5500 level. Partial profit booking is advised at current levels as a reaction could be expected. It could gain momentum on crossing 5575 (+/- 25 pts.) comfortably. Bank Nifty ,as we had mentioned earlier has resistance around 11300 (+/- 50 pts.)
Ø  Nifty's resistance for 18/02 is likely around 5600 (+/- 10 pts.)

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