29 july: Watch Nifty Ø IFCI research,

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Watch Nifty

Ø  Nifty went down yet again. It touched 5480 and made a small bounce up. Just as one had to wait for two consecutive closes above 5750 for strength, one also has to wait for a few more closes below 5480. If it does, the next support levels are 5440 and 5320-50. Bank Nifty's next support is likely around 11340. We have to reiterate that these reactions are a good opportunity to invest.

Ø  Nifty's support for 29/07 is likely around 5440-60.