25 February 2011

IFCI research, Watch Nifty 25 Feb 2011

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Watch Nifty
Ø  Nifty is back to the scenario we had envisaged if it was unable to cross 5575 -5600  - we had anticipated one more leg down and if it were to break through 5340 - it would get down to 5170-80 or possibly lower. Supports for Nifty is expected around 5170-5200 ; 5000 ; 4800 and 4700. Bank Nifty has good support around 9925-50.
Ø  Nifty's support for 25/02 is likely around 5200 and 5170. We can expect short term reversal up from the current levels/support levels indicated.

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