Watch Nifty Ø 3 August 2011:: IFCI research,

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Watch Nifty

Ø  Nifty closed weak below 5480. One has to wait for one more close to re-confirm that Nifty is indeed moving towards 5400-5180. We would like to reiterate that irrespective

of the move down/up, it is time to cherry pick.

Ø  Nifty's support for 03/08 is likely around 5400.