Yesterday's 50 bps hike in repo rate and reverse repo rate dampen the market centiment hugely but what i believe it is nothing but short term phenomenon and beneficial for indian mkt if i look into the broder pic. Looking at the over all macro economic scenario specially currency USD/INR (in a typical down trend)  is sparking some bullish indications for our mkt (hike in repo rate leads to hike in int rate- leads to increse in demand  of int asset class leads to appreaciation of Indian Rupee and ultimately USD/INR will get devaluated as it is happening now,,,,,,,) so in my view (from technicals) any deep in nifty around 5510-5520 lvl should be considered as a good entry lvl specially,,,,, go for banking, pharma, engineering, realty etc.