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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