Sunday, August 28, 2016

The Sensex Outlook for the Week Starting 29-08-2016

The Sensex continues to hang precariously close to support / trend reversal levels (from neutral to negative).
 Lack of domestic triggers/news flows and not-so-great cues from the Global Markets including the possibilities of a rate hike in the US and weak oil prices are frustrating the bulls.
The good news is that like the lack of buying triggers, the triggers for further downside from the current levels continue to low. Off course the markets don’t need any reason for executing sell-offs as and when they fancy, but I will stick my neck out and buy Index Options at current levels. Stock specific opportunities continue to abound.

Date
29-Aug-16
S2
27,619
S1
27,697
Sensex Previous Close
                                    27,782.25
R1
27,820
R2
27,936
Sensex Fair Value
27,913




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