Sunday, June 7, 2015

Sensex Outlook for the week starting 07-06-2015

         

We started June with a lot of promise, but the last week was only heartburn for all of us. Going forward, the markets are no-doubt poised at supports, but like we have seen before, more supports are broken than having seen a bounce-back from supports. Only aggressive investors/traders can think of going long at the current levels with stop-loss at 26656 or 26538.

For since long, I have been neutral to bullish on the markets, but many of my readers/clients have questioned my views, I would like to clarify that I’m simply not bearish on the markets. I’m neither bullish nor neutral on the markets, but I will NOT SELL in this market as well. So that makes me a PROXY BULL? The market will surprise us on the upside, so to avoid missing out on the resumption of the rally, keep buying on dips. Even after a stop-loss is triggered, you will get ‘keep buying on dips’ triggers at the lower levels.

Date
08-Jun-15
S2
26,656
S1
26,718
Sensex Previous Close
                 26,768.49
R1
26,834
R2
26,924
Medium Term Fair Value (6-12 months)
28,309

                                                                                   

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