30 December 2011

30 Dec: Watch Nifty Ø IFCI research,

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Watch Nifty
Ø  Nifty failed to break past above the 4700 levels in the days trade to close at 4646.25, -59.55 points lower on the last day of market expiry.

Ø  On the daily chart, nifty could find support at 4640/4610 levels in the near term. If nifty breaks 4610 on the lower side, 4560/4530 levels can be tested. On the upside, 4690 level would act as near term resistance. If nifty manages to climb above 4690, 4740/4765 levels can be expected.

Have strict stop losses
 

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