Watch Nifty Ø 16 Sept:: IFCI research,

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Watch Nifty

 

Ø  Nifty closed well above 5050 and may be is on its way to its next target of 5120-5180-5200. However, from a risk reward view point, selling near 5200 with tight stops makes good sense. Unless 5200 is crossed on a closing basis, investors need to be cautious. 4900 is a good support and 5200 is strong resistance. One has to wait for Nifty to break out of this range. Bank Nifty similarly has strong resistance around 10000.

Ø  Nifty's resistance for 16/09 is expected around 5120-40 and 5180-5200.