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Watch Nifty
Ø Nifty reacted steeply once again and touched the support levels of 5850. As indicated earlier, the next support level is at 5700--5730. One has to see whether Nifty takes support at 5850 or 5700 levels. A bounce up ,though temporary, is overdue. Bank Nifty has good support around 11950 and a rebound in this index is also imminent. Long term investors are advised to make investments at these support levels of 5850 and 5700.
Ø Intra day, we had advised shorting near 6000 and those who did would have realised good gains.
Ø Nifty's support for 22/11 is likely around 5800 and resistance around 6070 ( +/- 10 pts.).
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