Sunday, April 24, 2016

The Sensex Outlook for the week starting 25-04-2016

Last week I had given a near term target of 26088 for the Sensex & the Sensex managed to go upto 26080. Going forward, the chances of a correction are far more pronounced than those of the Sensex finally crossing over into 26000 territory. Conservative traders can just stay put for a while and the aggressive ones can consider shorting the markets at the current levels.
Even if the Sensex manages to test the patience of the bears by holding off the expected correction, the underlying trend is clearly negative at this point of time.

Date
25-Apr-16
S2
25,757
S1
25,772
Sensex Previous Close
                                    25,838.14
R1
25,844
R2
25,922
Sensex Fair Value
27,022


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