29 December 2011

29 Dec: Watch Nifty Ø IFCI research,

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Watch Nifty
Ø  Nifty continued its losing streak from Tuesday to close at 4705.80, 44.70 points lower on Wednesday, a day ahead of the December F&O expiry.
 
Ø  On the daily chart support could be found around 4690/4680 levels. If nifty breaches 4680, levels of 4640/4620 can be tested on the downside. On the upside resistance can be expected at 4770 levels. If nifty sustains above 4770, levels of 4800/4820 can be expected. If Nifty closes below 4680 on weekly basis 4620/4540 can be expected in the coming week.
 
Ø  Trades are advised to trades cautiously as volatility cannot be avoided ahead of December month expiry
 

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