Watch Nifty Ø 4 August 2011:: IFCI research,

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Watch Nifty

Ø  Nifty continued to move down and also closed below 5480 for the second day in running. We however hold an optimistic view and waiting to see if 5375 is violated - when we can see 5180-5200. We continue to see it as an opportunity for investments.

Ø  Nifty's resistance for 04/08 is likely around 5450 (+/- 10 pts.) and support around 5350 (+/- 10 pts.).