IFCI research, Watch Nifty: 1 JULY 2011

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Watch Nifty

Ø  Nifty continued to gather strength. It had also closed above 5600 but a tad lower than 5650. The recovery so far has been significant and convincing. Bknifty's move adds strength to the theory that the upmove has started. We will however wait for a close above 5650 for a confirmation.

Ø  For 1/7/11 Nifty's res are 5650(+-10pts)