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Watch Nifty
Ø Nifty once again had a weak session. As we have been saying, it has many support levels from where it could bounce and start moving up. But on the upside it has important resistance levels too to cross for a confirmation of resumption of bull run. 6050 and 6150 are some key levels to be watched. Risk averse investors can wait for a crossover of at least 6060 in Nifty to invest and for long term investors, the current correction is an opportunity. Bank Nifty has been leading Nifty in its downswing and gives a chance to invest in many frontline PSUs and Pvt sector banks. We have already indicated support levels of many scrips. Here again, risk averse investors can wait for at least 12560 levels to be crossed by Bank Nifty for a confirmation of resumption of uptrend.
Ø For 09/12 Nifty's support is expected around 5850( +/-10 pts).
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