Watch Nifty Ø Nov 17: IFCI research,

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Watch Nifty

 

Ø  Nifty  touched 5000 and recovered to close around 5050 ( though not as steep a recovery as we had expected). It was however a crucial session for Nifty. If Nifty continues to move up in tomorrow's session without violating today's low of 4990 - we can say that the near term correction is over and Nifty could once again try to reach 5400. If however 4990 (+/- 5 pts.) is violated, then the move down could continue.

Ø  Nifty's supports for 17/11 is likely around 4990, 4950-60 and resistance around 5100 ( +/- 10 pts.)