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Watch Nifty
Ø Nifty had reacted from near its resistance levels and could not close above 6050. The reaction was anyway anticipated (03/12). As far as Nifty stays above 5700 and if it reverses up from any of its support levels, Viz., 5950, 5850,5750, the uptrend is still intact. We need to worry only if Nifty closes below 5700 . The present reaction in Nifty and Bank Nifty is yet another opportunity to re-enter.
Ø For 07/12, Nifty's resistance is likely ~ 6050, 6100. Support ~ 5950 (+/- 10 pts).
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