Nifty stopped at the mentioned level of 5300-5320 and should be considered as a major support zone in the coming days. It can be a trend deciding level and can be the trailing stop for all long positions. Though it is still a range bound market and all the bullish sentiments are sold into deeper dips in the market have to be bought. Nifty can move to next square of 5625 above 5476 on a closing basis as mathematically it can be regarded as crucial level. On the stocks front some of the banking stocks especially the one's like ICICI bank and Axis bank can be the worst performers in the coming months after the bounce. I am expecting Axis to fall to sub 600 levels in the coming months as the private banking stocks have one more leg left before bottoming out just like nifty
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