28 Jan 2011: Watch Nifty: IFCI research

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Watch Nifty

Ø  Nifty closed marginally above 5600 which is not a very comforting sign.However, as we have been consistently maintaining, the downside is probably a maximum of 200-250 points and the long term uptrend is still intact.

Ø  On the way down, Nifty has supports around 5600, 5550, 5450 and 5350.

Ø  Nifty's support for 28/01 is around 5590 (+/- 10 pts.) and then 5550 (+/- 10 pts.)