27 June 2011

IFCI research, Watch Nifty: 27 June 2011

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Watch Nifty
Ø  Nifty made a stunning comeback when least expected by many. It has already given a good opportunity for those who dared to invest. It may be noted that we had mentioned that the risk-reward ratio was in favour of the bulls. While we do not want to make any emphatic statement on the recovery as yet, any sustained move like this could mean a turnaround. Of course, as held earlier, it has to cross 5600-50 hurdle.
Ø  Nifty's resistance for 27/06 is likely around 5530-50.

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