04 July 2011

IFCI research, Watch Nifty: 4 July 2011

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Watch Nifty

Ø  Nifty made a small reversal. It could not also close above 5650. Such moves are typical when Nifty tests some important milestones. This is precisely why we cautioned investors to watch for conclusive proof. It is quite possible that Nifty can continue its uptrend as we see no threat as yet for the uptrend (till 5180-5200 is violated).

Ø  Nifty's resistance for 04/07 is expected around 5650, 5700 and 5760.

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