Weekly Trading Highlights. 18th August 2008.

Watch out for crucial supports at 14650-14593 & 4403-4375 in initial panic.

Selling in frontlines on higher levels will be seen.

A close below 14653 & 4403 further down side will be seen.


BSE index: (14724) Consider for this week...Watch out for crucial support at 14653 & 14593 in further initial panic where some buying support not ruled out. If 14593 remain intact then expect corrective up surges.
Upward side 14888 a nearest hurdle crossover above which it'll surge up to 15013, 51143 & 15234. Sell on higher levels keeping stop loss of 15580.
Downward side a close below 14653 or intra day break below 14593 it'll turn further weak & fall down to 14446, 14344, 14248 & 14096.
In any worst scenario a close below 14096 it'll touch a panic low of 13727. Over all buy on declines keeping stop loss of 13727.

Long term investors can accumulate considering now 13727 a solid support keeping stop loss of 12500.

Nifty: (4430) Consider for this week...4403 a nearest & 4375 a crucial support to watch out for in initial panic where some buying not ruled out, if it remains intact then expect corrective up surges.
Upward side 4464 a nearest hurdle crossover above which it'll surge up to 4464, 4497 & 4557. Sell on higher levels keeping stop loss of 4650.
Downward side a close below 4403 or intra day break below 4375 it'll fall down heavily further to 4344 & 4250.
In worst scenario a close below 4250 it'll fall down to 4159. Over all buy on declines keeping stop loss of 4159.
Long term investors can accumulate at around 4159 keeping stop loss of 3790.