On the downside, I expect support to come in at 3500 (almost the point at which the Nifty closed on Wednesday).
Sectors for short term trading
If Infosys does not disappoint, then large cap stocks in the IT sector should be considered for swing trades. There is a buy on dips opportunity. All trades are short term.
PSU's like NTPC, National Alum, ONGC, BHEL & State Bank come in the list of potential swing trades. I do not consider momentum stocks for trading in the current environment since they represent high risk.
HDFC Bank, CIPLA, HDFC, Zee, Grasim in the private sector represents opportunity.
Insurance for Bank Deposits
I have a blog entry on insurance available on bank deposits. Read it here.