Market defies short calls; is the trend still down?

After showing signs of tiring, the market's price action had started showing signs of tiring and a break down, but shares today defied short calls to head higher.

In an interview with CNBC-TV18, technical analyst Prakash Gaba, however, said he would still maintain short positions on the Nifty till as long as it does not cross 8,700.

"If it opens gap-up on Tuesday, short more. If it opens gap down, take profits," he said on CNBC-TV18's Closing Bell segment.

In the show, along with Gaba, technical analyst Rajat Bose and fundamental analysts SP Tulsian and Deepak Shenoy discussed various stock and sector strategies.Watch video for more.