FOR THE WEEK (16-20, Aug 2010)

FOR THE WEEK: The immediate resistance levels for the Sensex and Nifty are at 18250-18300-18350 and 5480-5500-5520, respectively, while the support level is at 18100-18000-17850 and 5430-5400-5380. Any move close to the resistance levels can be used to book partial profits and initiate fresh positional long positions only if the Sensex manages to sustain above its support levels. However, considering the global uncertainty, maintain strict stop losses for all the long positions.

For the Day (16-08-2010)

For the Day: Domestic markets are likely to open on a flat note, taking cues from the flattish US and Asian indices. Traders are advised to trade long in Nifty within the range of 5435-5445 levels, else from 5400 with a stop loss at 5380 levels, targeting higher levels of 5480 and 5500.