The markets followed the outlook given in this column, last week – first the Sensex sustained 25000 for 3 days and then just when the bulls were ready to make a come-back, she cracked once again.
Don’t be fooled by the 1% week on week gain on the Sensex and the Nifty, the underlying trend continues to be negative and the markets will only fall further from here.
Continue to short the markets or if you want do that, just take a break from the markets for now.
Date
|
16-May-16
|
S2
|
25,400
|
S1
|
25,477
|
Sensex Previous Close
|
25,489.57
|
R1
|
25,545
|
R2
|
25,744
|
Sensex Fair Value
|
27,703
|
