SENSEX did close well above 9000 mark yesterday but DOW and Asian markets are in the red. So, we may still remain in a sideways mode.
FTSE100, if closes below 4100 then it would be a signal of impending weakness for this market. Similarly, if SENSEX also gives a close below 9000 then we are also going to touch the previous low in short to medium term. But it would also be an opportunity to cherry pick your well researched counters at lower levels.

There is consensus on a much desired rally in short to medium term. But markets noramlly do not trend according to the consensus. Yet there is a chance that they may before trending lower to make new lows in months ahead. The third quarter results would set the tone after January. Before that there could be a sudden sharp rally to be met with formidable resistances at 13000 levels on SENSEX. Trade light.