Slowly, the tone changes.

While ‘Experts’ in India keep on harping at the ‘golden age’ of capital markets soon to come in, the tone of commentaries coming from the USA is changing.
Ft.com. reports Gluskin Sheff economist, David Rosenberg as saying “…all we see is more evidence of a revenue-less recovery”. And, “despite the government stimulus, the economy is going to be limping along for a prolonged period of time as savings rates rise and debt ratios decline. ”

My suggestion is: the trading range seen in the Nifty tells us that smart money is not sure of the market direction. Once they get a sense of what may happen, the range will break, on the upside or the downside. That is where the big trend will come in.