REVIEW

1:30 p.m.
Hinging tad above 4300 just now, but Sensex is again below 14400. But we reiterate that uptrend only weakens on a close below these levels but terminates only on a close below 4100.
Another indicator is that the bellwether stock RELIANCE weakens only below 2150 on closing basis.

This is not to say that we remain gung-ho after so much of cut all through the week, but technically we haven't' reversed from the uptrend until 4100 is holding - it just weakens!
But August weak positions may square off on a close below 4300, while call options may hold if there is not much of a loss.
Put options be squared off if does not breach 4300 this week.

Good Luck for the day finally!