LEVELS FOR BSE & NSE FOR THE WEEK STARTING FROM 26th AUGUST 2013.

The  BSE sensex has series of supports between 18000-18500. The long term

trend will be under serious threat only on a close below 18000. If this happens

than the index can plunge to even 15300 to 15800 range. For the time being we

must not worry about this scenario as we are closer to 18500. The magnitude of

this pull back rally will decide the short term trend. If we are unable to cross

18760  in this rally than we can go back to 17500 again. Close above 19380  is

required for a change in the short term trend. If this happens we may target

20000 and the trading band will shift to 18000-20000.

The NIFTY closed at 5471 last week. It made a low of 5254. It is too early to

Conclude  that the downtrend from 6093 is over. The rally will face hurdle at

5580 and 5773. If we are unable to cross 5580 than we may again test the level

Of 5254 or even 5180. The  short term trend will turn positive on a close above

5770.

TATA STEEL was a star performer last week. It closed at 282. Trade long in

this counter with a stop loss of 265. The targets are 300 and 320.

INFOSYS  is facing resistance in the 2950-3000 band. Hold long positions

With a stop loss of 2950. Break below 2950 will take it to 2800. Long term

Support is at 2700. Conclusive break above 3000 range can take it to 3230.

RELIANCE INDUSTRIES  has become stagnant  and range bound. Only on

a close above  850 , one can go long in this counter with a stop loss of 820.

Investors for long term can take delivery of PETRONET  LNG .

.

            HAPPY TRADING FOR NEXT WEEK.  CHEERS!!