Indian Market outlook:-

Indian equities are expected to get a GAP DOWN opening on back of negative global cues and political uncertainty remain volatile due in latter session. 
US STOOCKS PLUNGED YESTERDAY, driving thedown jones to close down more than 635 points, crude oil reached near term low of 83 $ 
Technically nifty as an intraday resistance at-5038-5131 levels and Support is seen at 4891-4838 levels.
The SGX nifty is trading down by 75 points at 4858 
Curcialsupport is seen at 4802


FII's were net SELLERS worth rs 488cr in case market yesterday (18-08)

Market may open with a downside note and is likely to trade sideways. Take cautious approach.

SENSEX (16469)

Sensex has support at 16179, 16100 and 16000. Resistance at 16535 and 16648.

NIFTY (4944)

Resistance at 5000 and 5050. Support at 4850, 4821 and 4800.

RECOMMENDATIONS

1)     EXIDE INDUSTRIES (150.35)

   Support at 148 below 142 and 134. Resistance at 153 above 156. (Sell at higher)

2)     EDUCOMP (235)

    Support at 220 below 215 and freefall.  Resistance at 238 and 245.  (Sell at higher)

3)     SBI (2078)

Support at 2065 below 2000 and more. Resistance at 2079 and 2105. (Sell at higher)

4)  TCS (962)

   Resistance at 968 above 975.  Support at 950 below 915. (Sell at higher)

5)     BHARTI AIRTEL (391)

   Resistance is there at 395 above 399. Support at 388 below 372 and more.

DERIVATIVE STRATEGIES

       

    SELL ICICI BANK FUTURES AROUND 871 LEVELS

 
  SELL HDFC BANK FUTURES AROUND 466 LEVEls