How should trade before and after 11:00 AM. I have observed many times that before such action, market often try to move high irrespective of global cue. It does not mean if global cue is negative Nifty will open positive. It simply means that at around 10:15 to 10:30 AM Nifty will start moving upward and as soon IIP will release at 11:00 it will take new course of action.
Market is expecting IIP figures as 1.7% . Anything less than this sound bad but it is good because RBI has a chance to rate cut. and vice versa if figures came out higher than expected. But if the variation would be much more then RBI factor would work only after discounting the result output.