Indian Market outlook:-

Indian equities are expected to get a  opening down on back of negative global cues and remain volatile due in latter session.
Technically nifty as an intraday resistance at-4973-4943 levels and Support is seen at 4896- 4880 levels.
The SGX nifty is trading down by 33 points at 4913
Curcialsupport is seen at 4848
FII's were net  sellers rs 100 cr in case market yesterday (23-08)

Market may open with a down to negative note and is expected to trade sideways.

SENSEX (16498)

Sensex has support at 16433, 16349 and 16167. Resistance at 16552 and 16599.

NIFTY (4948)

Resistance at 4963, 4976 and 5015. Support at 4935, 4899 and 4880.

RECOMMENDATIONS

1)     SHRIRAM EPC (121.25)

   Support at 118 below 116. Resistance at 123.5 above 126 and more. (Buy at declines)

2)     GSFC (377.65)

    Support at 372 below 367.  Resistance at 381 above 388 and more.  (Buy at lower)

3)     FACT (39.7)

Support at 37.9 below 36. Resistance at 41 above 43.95. (Buy at declines)

4)  L&T (1593)

   Resistance at 1599 above 1605 and 1633.  Support at 1582 below 1570. (Buy at declines)

5)     HINDALCO  (145.25)

   Resistance is there at 147.3 above 149 and 152. Support at 143 below 141. (Buy at declines)

DERIVATIVE STRATEGIES

   

        SELL TATA MOTORS FUTURES AROUND 738 LEVELS

      SELL SBI FUTURES AROUND 2098 LEVELS