Watch Nifty Ø 23 August 2011:: IFCI research,

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Watch Nifty

Ø  There was atlast a pull back, though modest. Perhaps it could move up for the next few sessions atleast. On the way up, its first significant resistance is round 5180-5200. The next resistances are 5300, 5450.

Ø  Till such time we see any signs of reversal in trend ( from weakness to bottom formation) , short-term investors, medium term investors should keep booking profits.

Ø  Nifty's resistance for 23/08 is expected around 4950, 5000.