Nifty and Bank Nifty breaches past pivot levels 6,145 and 11,022 respectively.

Nifty will now look to move towards 6,335 and Bank Nifty will now look to move towards 11,600

However, one will need to watch for the state election results, in the first week of December and markets are mostly expected to be range bound till central government elections in 2014

Long Term investors need not worry much as long as you are invested in good companies. We are at fair valuations.