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Mid-session outlook(11-02-2011)

2011 is Indian stock markets Adverse News Year and markets loosing crucial supports after every such depressing news.

5210 was the most strong support and it is broken down after weaker IIP data today. As this support broken down in most bearish sentiment today therefore sustaining below 5210 will be watched first and if Nifty sustains below today then no hopes for Bulls and levels below 5000 will be seen.

As support seen near 5200 yesterday therefore it has to be ascertained today that today move below 5200 is genuine down move or IIP data negative news impact only.