The Nifty at cross roads???

The bears gain strength when the Nifty trades below 5230 level and the bulls may try to push it above the threshold level at 5252-63 range. The Nifty is getting consolidation with lower level buying but the fall to 5080 level is imment before the take to higher level is expected.
The fall by 55 points gave consolidation of the tech majors and the the reality sector. The JSW steel better than expected results can take the Tatasteel to again to 635-640 level and the DLF can touch 323-21 level. The Bombay slum development projects to the reality majors can prop the further fall.
The fall though happened due to the correction in metal majors and the reliance along with correction banking majors may find buyers. The Nifty will feel the real pressure from bears when it fails to cross the 5251 level. The Tata Motors, Infy, ONGC and SBI may correct further along with Reliance to bring the Nifty to lower levels and the rest will follow them.
Incase Nifty trade above 5229 level and the low is above 5209 level then the markets may find some buyers again. The longterm buying is happening evey time Nifty fall to 5200 level.
The major fall happened in the second rung PSU banks due to their poor performance. The South India bank, Indian Bank, Central bank and Union bank attracted exist option at higher level. They same will happen to the majors due to the inflation concerns. The power equipment majors lile ABB fell due to poor forecast. The markets showed real weakness and likely to continue in the mid and small cap stocks.
The metal & mineral companies like Sesa Goa, Guj NRE are facing the heat of relentless rise of Rupee. The oil importing companies are enjoying the same at the otherend.
The RIL has to trade above 1031 in the early trade and to close above 1039 to review the situation, otherwise the counter is under severe bear pressure. The ICICI has to trade above 1042 level and low shall not breach below 925. The Tata Motors though under bull grip can see profit book wthout crossing high 874-76 level. The Tata steel in the morning has to cross the resistance at 618 to negate the pressure.