Sensex and Nifty have managed to hold very near their crucial levels of 9140 and 2750. But a close below these levels would be a signal of touching 8500/2500 in the days ahead.

So far it doesn't look like another start of a downtrend but initiating long positions immediately below 9000/2750 should be avoided in January series of F&O section. This is because the upper range of 11000/3250 would also become unreachable in the short term. If sensex/nifty manage to hold above 9000/2750 today also, then go for Nifty call option of strike 3000.