Gepl Short Term Nifty View On-01062011(Video)

Today Nifty closed at 5560 with major gain of 87 points comparative to its previous day close. We at GEPL are of the view that ongoing rally is heading towards the mark of 5600. Cross over and sustenance above 5600 will lift up Nifty quickly to the area of 5675-5680. Short term support for Nifty is placed at 5520 and below that 5400. On the higher side resistance is placed at 5600 and above that at 5680(200DMA). Regarding sector specific approach, in the near term Capital Goods and FMCG seems to out perform the broader indices while Metals and Consumer Durable seems to under perform the broader market

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