A close below 2840/9340 on Nifty/Sensex today would be a signal for very short term traders to remain short. But if we get a close above here then very short term traders can venture to initiate long position by going for Nifty call options of 2900 and 3000 for a target of 3050/10000 on Nifty/Sensex by next week.
The world markets are trying to give positive signals but there is still some important economic U.S. data lined up for today. Moreover, the Dow is still hovering around the psychological mark 8000. Whatever positivity we would have should be of very short term nature and the Dow would not turn positive until above 8550.