16 November 2011

Watch Nifty Ø 16 Nov 2011:: IFCI research,

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Watch Nifty
 
Ø  Nifty pierced through 5140 to touch 5050. On the way down, it has supports around 5050,5000,4900 and 4700. We will have to see if Nifty holds 4900 and 4700, especially 4700 which is a very important support level.

Ø  However, in the immediate term, one can expect a sharp reversal up in the next few sessions.

Ø  Nifty's support for 16/11 is expected around 5050 and 5000.

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