The Q2 numbers and guidance for FY08 of Infosys Technologies is likely to take away the markets momentum today.In a normal situation, Infosys number could have been a dampener. However, the market is in bulls command, and hence a very little damage is seen.Technically, Nifty has immediate support at around 5415 and below that, 5365 is the strong support at this juncture. As long as it sustains above 5225 on declines, the uptrend remains strong and intact.Its immediate resistance and target is at 5470 and above that it may move up to 5508 levels and 5545. The 5545 region may prove to be a strong resistance where it is likely to take a breather in its journey up.According to Religare research, markets may continue to display high volatility so caution is advised.
