Sunday, May 24, 2015

Sensex Outlook for the week starting 24-05-2015


Sensex Outlook for the week -


This is a very difficult to write outlook.As you can notice the supports and resistance levels given below are very close to each other.Since the way I calculate the Supports & Resistances has worked for the past 5000+ trading sessions, I do not see anything odd in the values that my technique has thrown up for Monday, 25th May 2015.

Dont initiate fresh longs for now and keep a trailing stop-loss at 27762.
The left brain says that we're on the top of the Sensex trading range, so a correction is inevitable.However the right side says that an upside breakout from the 27000-28000 band is a far greater possibility.
Date 25-May-15
S2 27,829
S1 27,952
Sensex Previous Close                  27,957.50
R1 27,962
R2 28,071
Medium Term Fair Value (6-12 months) 28,170
      
                                                                                      
                                                                                                            

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