What to your mind are the chances that somewhere in the month of December, Nifty will make a serious attempt to go past 5200?

Ashwani Gujral: If RBI starts saying that they are about to cut rates or government policy starts coming in then only we are going to head upwards. If that does not happen, then we will continue to stick on and maybe underperform global markets as well because the US markets have now probably trading beyond their 200 DMAs and we are still about 7-8% away from those levels.

So nothing magical is likely to happen unless the given ground situation changes. There has to be a serious commitment to reducing rates at some point. Right now it is all speculation, If there is no firm commitment, then around 5200-5250 you will get very serious supply and chances are that the declines will restart since January is generally a bad month.