Nifty was up 6.4 per cent from the November low of 4,639 levels, with ICICI bank, Hindalco, SAIL and Sterlite shares performing as 'Nifty gainers'. Also, Raj Majumder, CEO of Auroch Investment Managers and Jitendra Panda, Head of Broking, Future Capital Securities Ltd join NDTV Profit's Ashutosh Sinha on Tips for Tomorrow, where Raj Majumdar said that markets are witnessing a technical short covering and a 5-10 per cent downside from current levels cannot be ruled out. He added that he does not expect the bounce to sustain.