Watch Nifty Ø 1 Nov 2011:: IFCI research,

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Watch Nifty

 

Ø  After a steep rise, a sideways consolidation is only but to be expected. Nifty has now strong support around 5200 with 5300 giving a minor support. So far as 5200 is held, Nifty could well be on its way towards its target of 5600. Bank Nifty is leading from the front after crossing its first resistance of 10000. Its next target is 10350-10400.

Ø  Nifty's support for 01/11 is expected around 5300 (+/- 10 pts.) and resistance around 5380-5400.