Yesterday we saw good short covering in the market. Nifty closed above the trendline. On Wednesday Nifty touched the over sold level. In the recent past also we have seen the Nifty plunging down till those levels, and within few days some pull back also. Same thing happend yesterday. Nifty continued its downward movement till 4536 before closing at 4676 levels. Inflation will be high this weekend. There was good buying in the market, by well know people. Till the time the Nifty closes above the Red trendline, my view will remain the same " BEARISH".
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