Thursday, June 16, 2016

The Sensex Outlook for the Day - 17-06-2016

As if by magic, the Sensex just managed to close just  above 26500, after going down all the way to 26315.There is no change in the near term outlook for the markets given yesterday - As long as the Sensex manages to stay above 26500, the underlying trend as well as the near term outlook remains positive.

Buy on all dips till 26500 for a near term target of 26900. Will relook at the underlying trend only above 26900 or below 26500.

Date
17-Jun-16
S2
26,342
S1
26,509
Sensex Previous Close
                                    26,525.46
R1
26,641
R2
26,686
Sensex Fair Value
27,902



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