7 April, 2011: Watch Nifty Ø IFCI research,

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Watch Nifty

Ø  Nifty has started moving sideways. It had resisted around 5950 and the reaction was again intra-day in nature. As we have been maintaining, it has to react 3-4% before a sustained and less volatile move up. If not, volatility would be the order of the day till a meaningful correction sets in. The indices are however well poised from a long term point of view.

Ø  Nifty's resistance for 07/04 is likely around 5950, 5980 and then 6000.