(Updated on 08-05-2012 Time 8.50 AM)
As expected, the market plunged in opening trade and remained for there for the half-time of the session.
We mentioned the lower levels around 5020-5005 and market dipped to about 5000 and sharp
reversal seen as a result of statement by FM in a order to control damage which gave a sigh of relief.
Now bias is still bearish as long as 5160 is not taken out for 2-3 consecutive closing.
5092-5071-5045 intraday zones to support.
Sustained Trading below 5037 may push it to 5000.