11 May 2011

IFCI research, Watch Nifty: 11 May 2011

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Watch Nifty
Ø  Nifty had an indifferent session for yet another day. This may be a precursor for a big break out. It has resistance around 5950 and supports at 5350, 5170. Bank Nifty is similarly locked in between 11980 and 10000 in a broad range Investors perhaps should shift focus to individual stocks till a clear direction emerges.
Ø  Nifty's resistance for 11/05 continues to be around 5620 (+/- 10 pts.)

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