WEDNESDAY 30JULY 2008

Since we closed below the important support at 14130(nifty4256) yesterday, new resistance around that level has now limited the up move for the time being. Today the markets would certainly open on a positive note in response to robust up move in DJIA etc., but how sustainable would that be, is yet to be seen.
Yesterday's high/low:
Sensex 14153/13727 and mid point is 13940
Nifty 4332/4159 and mid point is 4246
Higher the close above these given levels, better the chances of remaining in the up trend.
But, as said earlier, a close below next supports at 13500(4080) would turn things negative again.
Happy Trading!

(one can calculate high/low and mid point for other scrips also and trade accordingly. But remember that these levels give you a rough idea of the impending trend only)