Watch Nifty Ø 22 Sept 2011:: IFCI research,

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Watch Nifty

Ø  Nifty was sideways for the entire session. It can be expected to be volatile also till a clear break out happens. As we said earlier, even if Nifty closes above 5200, the trend only changes to neutral and not positive. Till Nifty shows clear direction and strength, perhaps we could shift focus to individual scrips which have been giving us decent returns. Those willing to take risks can try shorting nifty near 5180-5200 with small stops.

Ø  For 22/9 also Nifty faces resistance around 5190-5200