Today we have negative cues from the world markets. We also have IIP(Industrial production) numbers around noon time today, which are expected to be poor. The consensus is 1.68 and if the numbers come out below this mark then expect more selling and profit booking. But our markets are expected to remain buoyant to some extent over the next couple of weeks because world markets are only waiting for the AUTO bailout in the U.S. Otherwise, all the negative news is already factored into the markets and there are technical reasons for the markets to rally a little more, if not too much.

Hold your longs or buy at lower levels with stop loss 9000 on SENSEX and 2700 on NIFTY.