Watch Nifty Ø 21 Sept 2011:: IFCI research,

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Watch Nifty

Ø  Nifty staged a stunning recovery and also closed very near 5150. However, its still not time for celebration. As we had mentioned earlier, Nifty has to close convincingly above 5200 for a reversal from weak trend to neutral. The sign of strength is still away and will be revisited at a later stage. Bank nifty has to similarly cross 10000 for a trend reversal. We also would also like to reinterate that the long term trend is intact.

 

Ø  For 21/9, Nifty's resistances are 5150, 5200.