Watch Nifty Ø 17 Oct 2011:: IFCI research,

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Watch Nifty

Ø  Nifty moved towards the 5150 mark yet again. It could perhaps attempt 5200 and also cross it in the next few sessions. As observed earlier, one could see a sharp move down even after it crosses 5200. A comprehensive proof of a sustained trend would emerge only when Nifty is able to close above 5200 for a few days. While the near term could hold a bit of uncertainties, the long term trend is bullish and reactions are good opportunities to invest for handsome returns.

Ø  Nifty's resistance for 17/10 can be expected around 5170-5190 levels.