Monday, July 27, 2015

Sensex Outlook for the week starting 27-07-2015


Sensex Outlook for the week -
The markets corrected over the week, as suggested in this column last week. Going forward, the markets will be significantly influenced by the results announcements.
We could see a further time correction, where the Sensex and the Nifty could spend a lot of time consolidating within a broad range rather than moving significantly up or down. This kind of a market action will give many trading opportunities.
The outlook would change from ‘time correction cum consolidation’ to ‘negative’ only with a close below 27900.So keep a trailing stop loss at 27900 for all trading longs.
                                                                                 
Date
27-Jul-15
S2
27,940
S1
28,084
Sensex Previous Close
                 28,112.31
R1
28,157
R2
28,200
Sensex Fair Value
25,609



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