There has been no perceptible change in the market outlook over the last week. The Sensex will continue to consolidate within the tight 27500-28000 band, with a slightly more volatile bias as we head towards the F&O expiry and the last of the earning’s season.
Don’t see the Sensex moving significantly above 28000 anytime soon; at the same time a close below 27500 will trigger a fresh downside towards the lows of the not so recent past.
Date
|
25-Jul-16
|
S2
|
27,698
|
S1
|
27,761
|
Sensex Previous Close
|
27,803.24
|
R1
|
27,832
|
R2
|
27,919
|
Sensex Fair Value
|
27,920
|
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