Monday, March 7, 2016

The Sensex Outlook for the week starting 08-03-2016

The Sensex will consolidate around 24500, before making the leap towards 25000.
As of now, I do not see any threat to the uptrend which started at ~22400 levels. Off course, profit-booking dips/corrections will be there and are welcome.
Keep a trailing stop-loss at 24319 and 24046 for trading and investment long positions respectively. The region around 24800-24900 is a slightly nasty resistance zone.

Date
08-Mar-16
S2
24,547
S1
24,632
Sensex Previous Close
                                    24,646.48
R1
24,719
R2
24,809
Sensex Fair Value
27,323


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