Nifty: Will it break 2500?

All of us are watching the 2500 level on the nifty with great interest. There is growing consensus amongst the commentator that it will be broken sooner rather than later and many technical experts are predicting a dive towards 2000 and possibly 1800. Normally when we find such a consensus the market usually proves us wrong and heads in the other direction. Unfortunately this is what the entire trading community is thinking and all are positioned for a strong bounce off the 2500 level. There are hardly any shorts in the market and strong PUT writing at 2500 level confirms this. Thus, its look like this time market will do exactly as what pundits are predicting as hardly anybody is positioned to benefit from the downward dive. The 2500 level has been successfully defended in the recent past primarily due to insurance inflows which are set to dry out as March unwinds. So fasten your seat belts and get ready for a dive.