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Watch Nifty
Ø Nifty was highly volatile.It fell from its peak in the early morning. It took support at exactly the levels mentioned by us (5900) and made a steep recovery. It also closed above 5930 levels. It has to stay and close above 5930 levels to show strength. Otherwise it is a sign of weakness. Supports on the downside is likely around 5900, 5850 and 5700-30. Bank Nifty was the spoil sport. However, as far as it does not close below 11950, the uptrend is still intact.
Ø Auto sector was one of the contributory factors for Nifty's reversal up. Almost all scrips recommended on 18/11 ( except scrips like Bank Baroda and Axis Bk.) had moved up well.
Ø Nifty's support for 19/11 is around 5830-40 and resistance around 6100.
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