1 PM update ( As opposed to..)

See Saw markets even on a dead cat bounce, dead wicket, dull season and a non existent indo pak series in debate. Where? Check the Rupee trade. Stuck at 54.9, the rupee dealers hated the shorts enough to bounce the rupee back to 55.28 and then dropped like nine pins. So also the dead cat sentiment on the nifty 50. 

Axis Results are not there yet, there could be more action today 5200 supports are really strong , anyone ith a short position still gets the blessings of the NSE rupee. As i said, it’s all promoters outside the Nifty ith a dainty little pocket or to in Mauritius. And that would not be any of the shado Economy cash that has run away evading the tax people? 

Axis Earnings are in and so my Earnings season post ramps up for a publish switch thrown in minutes from now. Banks have a lot for this rally but “sold on results” cannot change the sentiment either. 5200 will hold.

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