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.
|Sensex Previous Close||27,957.50|
|Medium Term Fair Value (6-12 months)||28,170|