04 March 2011

IFCI research, 4 March 11: Watch Nifty

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Watch Nifty
Ø  NIFTY stayed positive the whole day. However, it has to cross 5600-50 on a closing basis for further momentum. It could make a couple of attempts before it finally does.  In the interim, so far as 5170/ 5240 is protected, any reaction is an opportunity. Bank Nifty has to cross 11300 for strength.
Ø  For 04/03, Nifty coninues to face resistance around 5600 ( +/- 10 pts.)

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