Watch Nifty Ø 10 August 2011:: IFCI research,

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Watch Nifty

Ø  Nifty continued to slide amidst volatility yet again. The intra-day recovery has been more than 200 points. It could continue to move up some more. It has resistances at 5180-5250-5300-5500. One can definitely consider booking profits at either 5300 or 5500. Nifty could reverse down again from these resistance levels.

Ø  Nifty's resistance for 10/08 is likely around 5180 and 5250 (+/- 10 pts.).