With the trend now seeming uncertain one could consider short selling - Hindustan Lever at Rs 1620, NIIT at Rs 1425, Satyam Computers at Rs 485 and Onward Technologies at Rs 90. Long positions, although very risky now, could be considered at the counters of ITC at Rs 740, ACC at Rs 1550 and Karur Vyas Bank at Rs 185. With the situation having turned fluid overnight, the FII's could well hold the key to future market trends. Hence, traders would do well to limit their trade and close them at the earliest.

(Ashok Kumar, heads Lotus Consultants, Mumbai)