Monday, December 21, 2015

The Sensex Outlook for the week starting 21-12-2015

The stop-loss level of 25448 given in the outlook for Friday was not violated. Given the fact that the region above 25800 and near 26000 is a resistance zone, it’s normal to see the markets correct the way they did on Friday.
Going forward the Sensex has strong supports between 25400-25500 and a only a close below 25400, would be a cause of worry for the bulls.
Let the market stabilize around 25500, before we can see 26200 on the horizon,but it’s a buy on dips market as long as 25400 is not violated.


Date
21-Dec-15
S2
25,434
S1
25,482
Sensex Previous Close
                                    25,519.22
R1
25,597
R2
25,731
Sensex Fair Value
25,966


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