Watch Nifty Ø August 16, 2011 :IFCI research,

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Watch Nifty

Ø  Nifty could not sustain above 5180-5200 and weakened further. This is perhaps an indication that Nifty is heading first towards its recent low of 4950. Any pull back is to be viewed with suspicion till 5500-5750 levels are crossed.

Ø  Nifty's support for 16/08 is likely around 5000 ( +/- 10 pts.) and resistance expected around 5250 ( +/- 10 pts.)