IFCI research, Watch Nifty: 10 June 2011

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Watch Nifty

Ø  Market seems to be testing the patience of all investors. We do expect direction from Nifty shortly. While it is true that individual scrips can remain sideways for weeks or months together (like Reliance) the breakouts are faster in broader indices which we hope will be true for Nifty as well.

Ø  For 10/06, Nifty's resistance is likely around 5560, 5600. Support is expected around 5500.