09 January 2012

9 Jan: Watch Nifty Ø IFCI research,

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Watch Nifty
Ø  Nifty shut shop for the week after a volatile day of trade at 4754.10, making a high/low of 4794.90 / 4686.85.
Ø  On the daily chart immediate stiff resistance is found at 4800 and downward sloping trend line resistance connecting highs of 5326.45, 5055.40 is expected at 4840 levels.  Only if nifty sustains above 4840 in the short term levels of 4875/4910/4945 can be expected. On the downside support can be found at 4680/4670 levels. If nifty breaks below 4670, levels of 4645/4610/4680 can be expected in the short term
Have strict stop losses

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