After a positive start, the markets slipped in red, trading the entire day with negative bias before recovering by the end of trade.  Sectoral IT, Healthcare, Metals & Oil & Gas held out in green & the losers were Auto, Cap Goods & Banks.  Market breath was negative as the Mid & Small cap indices too were in red.

INR gained strength trading at 62.00 against the USD at 3.30 pm.  European markets were trading marginally in green.

Support levels on Nifty & Sensex held out as the markets rebound from lower levels.  However, given that we will see quarterly numbers from the IT big boy Infosys before the markets open, no long bets were seen getting carried over for tomorrow's trade & later in the day, we will have the IIP numbers as well, where marginal improvement is expected.

If the numbers from Infosys disappoints then we may see correction in markets & this correction we feel will be a good time to buy IT/Pharma / FMCG / Telecom /& Media in parts selectively.