IFCI research, 1 March 11: Watch Nifty

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Watch Nifty

Ø  Budget has come and gone. Yet there doesn't seem to be any direction. It may be due to the immediacy and lack of time to digest and the intra day volatility may come down in the days to come. Back to basics - Nifty has support around 5340, 5170-80 and 4900 levels. Any reaction would be an opportunity to invest for the long term.

Ø  Nifty's support for 01/03 is expected around 5250 (+/- 10 pts.)