Tuesday, March 22, 2016

The Sensex Outlook for the Day - 22-03-2016

Finally we have seen the Sensex take on not only 24900, but also 25000 with a wide margin. However, sustaining these levels in the near term looks difficult. As much as I’m bullish in the short to long term, it makes sense to be extremely cautious in the immediate term. Keep a strict trailing stop-loss at 25088 and trade light, if you’re not booking profits right away.

Date
22-Mar-16
S2
25,088
S1
25,200
Sensex Previous Close
                                    25,285.37
R1
25,327
R2
25,496
Sensex Fair Value
27,002


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