Robust rallies on the DOW and FTSE may get reflected on Asian markets today.
But SENSEX would need to close above 9320 to make short term positive. Watch Out!

Also watch out for the following signals:-
RELIANCE needs to close above 1200 to make things positive for itself in the short term. target above here would be 1300/1320.
SBIN needs to close above 1240/1245 though, it seems to be in positive terrain currently. Target above here would be 1350/1370.
INFOSYS closing above 1240 would be a positive sign for short term. Targets above here would be 1300 and then 1450.

Please remember that it would be a bear market rally, if it happens! SENSEX needs to give a close above 11000 to keep things in buoyant mood. But to turn things positive for the medium term it would require to surpass 13000. Therefore, it would require lot of booster shots to do so. Indian government is also likely to come up with some rejuvenating plans for the economy in the days to come. But that would only shorten the bear period and not overcome the blues of recession in developed economies.

GOLD is in a buoyant mood as it moved above our previous stop loss at $800. It remains to be seen if it crosses over its formidable resistance at $920 this time because USD is not likely to remain weak in the near term. Unless the USD turns weak it is unlikely that the GOLD would surpass that resistance.