Sunday, May 31, 2015

Sensex Outlook for the week starting 31-05-2015

The upside breakout from the 27000-28000 band was expected last week.
While that it not happen, we went thru a cycle of extreme despair and hope last week as the Sensex oscillated from 28071 to 27354 to finally close at 28828.With the signs of the revival in the economy becoming more clearly audible, the case for a breakout of trading range is far more pronounced.
One can initiate aggressive longs with a trailing stop-loss at 27592 for ST targets of 28050 and 28128.

Date 01-Jun-15
S2 27,717
S1 27,728
Sensex Previous Close                  27,828.44
R1 27,888
R2 28,027
Medium Term Fair Value (6-12 months) 28,276


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