Watch Nifty Ø 1 August 2011:: IFCI research,

Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

Watch Nifty

Ø  Nifty  and Bank Nifty moved sideways in 29/07 trades. We would like to reiterate that the long-term and medium term view is bullish. In the immediate term, Nifty has good support around 5450-5400. It is also significant that Nifty did not close below 5480. If however it does violate 5480 ( on a closing basis) its next support is expected around 5180. Bank Nifty similarly has strong support around 10340-50 and immediate support around 10750. Investors should wait and watch for these support levels for investment. The longer these sideways move ( between 5180-5500-5750), the move on the way up will be sustained and for a longer duration.

Ø  Long term investors are advised to make systematic investments from the current levels.

Ø  Nifty's resistance for 01/08 is expected around 5500.