OUTLOOK 18 TO 22 AUGUST 2008

SENSEX
Resistance15575. We can b/o above here, "only" if 14400 is not breached.
Resistance15260. It is a resistance zone above here.

(14724 CMP)

Support14400. Bullish trend intact if it is not breached. Buying is recommended up to this level. No fresh long positions on a close below here.
Support14000 is crucial support(SL for long positions). Weakness below here.



NIFTY
Resistance4650 could be surpassed in near term "only" if 4300 is not breached.
Resistance4550.

(4431 CMP)

Support4300. If not breached then bullish uptrend intact. Buying is recommended up to this level. No fresh longs on a close below here.
Support4100 is the crucial (SL for long positions). Weakness sets in below here.


CONCLUSION
Would these resistances be surpassed this week or will these supports hold -no clue at all! The trend is unclear for the week. But the given levels should certainly help you in trading. Go gung ho for near term target of 5100 if 4300 is not breached this week.

Happy Trading!

p.s. Our Watchlist can always be helpful in determining a trend. The page is updated by Monday morning latest. Also keep a watch on updates and Stock Recommendation.