Bull vs BEARS

Will Nifty breakdown after Infosys results and IIP Data

Answer was evident, most of the recommendations made so far have worked like a charm. Now everyone is talking about 5180 being tested again, if 5404 is broken.

My view is very simple, the CABINET RE-SHUFFLE that has happened after the market closed and the late smart recovery in global markets will show its true picture.

Technically after a sudden correction like yesterday NIFTY normally shows a small bounce back.

SO today we may see nifty trying to go above 5560...whether it will sustain or not is the million dollar question. Nifty has a small support at 5480 levels and if the same is breached then 5404 is the next major support.

Honestly, since we have been booking profit on most of the calls given, today I would just like to see the nifty's overall behaviour and capture the demand and supply zone. BUT one thing is for sure Q1 result will not be good and nifty is in a tug-of-war "BEAR vs BULL" and unfortunately BEARS have won the first round.