Sunday, August 2, 2015

Sensex Outlook for the week starting - 02-08-2015


On a net Friday to Friday basis, the Sensex and Nifty hardly moved. Even though the intraday/intraweek movement saw the Sensex spend quite some time below the short term supports. Going forward, the chances of moving up higher are greater than those of a further price/time correction.

However, the rally could be stock specific rather than broad based, as a lot of news flow is going to chase select stocks.

Conservative traders should keep a trailing stop-loss at 27940 and aggressive traders at 27724.   

Date
03-Aug-15
S2
27,875
S1
28,030
Sensex Previous Close
                 28,114.56
R1
28,161
R2
28,304
Sensex Fair Value
25,693

                                                                                 
Disclaimer and Exclusion of Liability - http://www.raghavs-picks.com/disclaimer.JPG

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