Nifty has been trading in the range of 5740-5601 for the July series.
2 Big factors could pull/drag the nifty back to 5500 levels
Infosys Technology, the Big Bad Boy is coming with results at 9 Am and the charts are also suggesting a very good fight between between bulls and Bears. For last 4 Quarter; Infy is cracking after its results is declared. On daily Chart 2880 and 2970 is highly traded range and break of range on either side will give 100 points move. Hence: Sell below 2888 Tgt 2836 and 2792....Buy above 2930 Tgt 2976 and 3017.
IIP data as usual will not impress the market much and the government continues to revise the data given earlier...which confuses the market even more.
Hence it is safe to assume that Market is expected to remain in the negative zone most of the time with selling pressure especially in sectors like IT, Metals, Auto & Telecom.
Sell On RISE would be the game for Intraday players.
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