16 May 2011

IFCI research, Watch Nifty: 16 May 2011

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Watch Nifty
Ø  Nifty continues to be sideways, notwithstanding the upswing consequent on the election results. A clear direction can be expected after the present
base formation. Meantime, it would be better to concentrate on individual scrips.

Ø  Nifty's support for 16/05 is likely around 5400,5420 and resistance around 5650.

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