06 April 2011

IFCI research, Watch Nifty, 6 Apr, 2011

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Watch Nifty
Ø  Nifty and Bank Nifty seem to be in no mood to relent. Correction, if any, seems to be only intra-day. Minor corrections ( 3-5%) should be good for  longer term sustained moves. If there are no such minor corrections in between, then the correction  (whenever it happens) will be steep, severe and unexpected.
Ø  Nifty's resistance for 06/04 is the same as 05/04 ie. 5950 and support is expected around 5800.

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