Sunday, May 1, 2016

The Sensex Outlook for the week starting 02-05-2016

As given in this column last week, the markets have corrected amply. However, the correction / downtrend is not over yet and the Sensex could break the lower supports given below. Continue to remain short on the markets, or simply stay away. Even if the Sensex manages to test the patience of the bears by holding off the further expected correction, the underlying trend continues to be clearly negative at this point of time.

Date
02-May-16
S2
25,424
S1
25,595
Sensex Previous Close
                                    25,606.62
R1
25,623
R2
25,755
Sensex Fair Value
27,000


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