is Indian Stock market looking up??

After several days of beaten badly,The Indian stock market seem to be raising its head above waters.The market is holding on to its gains. Sensex is trading at 17112, up 504 points and Nifty is at 4977, up 137 points from the previous close. The CNX Midcaps Index is up 1.8% and BSE Small caps Index is also in the positive. The market breadth is positive with advances at 714 against declines of 441 on the NSE