28-07-2008 Market Today

BSE index: (14275) Consider for this week...Island reversal on daily chart indicates selling initially on higher levels will be seen. Consider 14569 a nearest & 14850 a solid resistance up to which selling on higher levels will be seen keep stop loss of 14850 to your sales initially.
Downward side 14161 a nearest support break below which it'll fall down to 13986, 13937 & 13822 initially. Consider 13822 a solid support where again buying support will be seen. Break below 13822 some more panic will drag it down to 13767, 13639 & then 12845. Buy on extreme lower levels keeping stop loss of 12500.
Upward side a close above 14850 it'll turn bit positive & spurt up to 15268.
A close above 15268 it'll turn total positive & shoot up to 15790 & 16195.

Nifty: (4311) 4303 a nearest crucial support break below which it'll heavily fall down further to 4249, 4215 & 4161. Consider 4215 to 4161 a solid support area where heavy buying support not ruled out.
In ant worst scenario a close below 4161 it'll turn very weak & fall down heavily to 4062, 4000 & 3920. Buy on extreme lower levels keeping stop loss of 3879.
Upward side it'll face resistances at 4385 & 4464 initially, keep stop loss of 4464 to your sales.
A close above 4464 it'll turn positive & surge up to 4550 initially. A close above 4550 it'll turn total positive & shoot up to 4680 & 4802.