nifty of 17th Jan2011

After a warm and seemingly promising start and touching a high of  5680 Nifty dropped down to the level of 5625 and remained subdued for the whole day. However there was no severe slide which gave the impression of a silver lining behind the dark. The selling pressure seems to be subsiding as Nifty closed flat at 5654. But the severe slide of the last two weeks has thrown bulls out of the market and due to lack of demand, things are bleak.