Indian government is expected to come out with stimulus package soon. The interest rate cut and fuel price cut are also expected sometime soon. If we have satisfactory inflation numbers tomorrow then expect a rate cut soon. The U.S. automaker bail out also seems to be imminent though, the terms would need to be studied. But the jobless data of the U.S. could be a dampener tomorrow. Otherwise, there are no negative cues for the markets so far.

Therefore, the downswing could be delayed for the moment. But no big ticket trades are suggested on a rise. Again, a long straddle (buying call and put option of same strike) of strike 2700 or above is suggested. But a sideways market within a small range could also cause loss in options segment. Trade accordingly. The outlook and levels given in the posts below are still relevant.