Sunday, August 23, 2015

Sensex Outlook for the week starting - 24-08-2015


The outlook for the week which I’m presenting below was mentally articulated by me as the markets closed on Friday.
As I looked at my charts and the market technicals over the weekend – I did not see anything contrary to what I felt on Friday.
Initiate aggressive longs at the current levels – for the light at the end of the tunnel will be visible anytime soon.
The bulls would be closing the expiry & the week on a very happy note.
Still propriety demands that I give stop loss levels as a safety net.
Initiate longs accordingly with a trailing stop loss below 27131 for conservative traders and below 27028 for aggressive traders.

Date
24-Aug-15
S2
27,131
S1
27,313
Sensex Previous Close
                 27,366.07
R1
27,443
R2
27,472
Sensex Fair Value
26,026





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