Watch Nifty, IFCI research, 31 March 2011

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Watch Nifty

Ø  Nifty continued to exhibit strength. It is likely to go up initially and react in tomorrow's session. It is however time for short term traders to book partial profits and be ready to enter on some reaction.

Ø  Nifty faced resistance around 5800 and reacted intraday in 30/03 trades. For 31/03, it could continue to see resistance either at 5800 (+/- 10 pts.) or around 5840 ( +/- 10 pts.).