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India Equity Research Reports, IPO and Stock News
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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Watch Nifty
Ø Nifty had a weak session on 11/03/11. It did not violate 5400 and is still stuck in a range between 5400 and 5600. However, the pattern of movements does not give the confidence that 5600 will be pierced on a closing basis. It seems possible that there could be one more move down dragging the index down to 5170 or even lower. We however reiterate our view that after the correction is over, there could be a long and protracted move up, taking the indices to newer highs.
Ø We would recommend investors to buy put option when the index is near 5600 or selling out of money call option when the index moves up.
Ø Nifty's support for 14/03 is expected around 5400, 5370 (+/- 10 pts.).
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