Weekly stop loss: NIFTY 4975 and SENSEX 16740.

At the current close of 4870 and 16415 NIFTY/SENSEX remain in down trend as per the weekly oscillators. The stop loss levels for NIFTY/SENSEX are 4975 and 16740 respectively. A move above these levels in this week would pave the way for renewed uptrend. Alternatively, the higher levels would attract some more profit taking by the tired bulls and in such eventuality NIFTY/SENSEX may drift downwards to seek fresh support around 4725 and 16975 respectively. Most probabaly it would remain as a trader's market by moving up and down on alternate bouts of intra-day price swings. Keep the volumes light and avoid aggressive buying in this week.