Sunday, September 18, 2016

The Sensex Outlook for the Week Starting 19-09-2016

In the extreme near term, the Sensex will consolidate between 28400 and 28800, with a volatile undertone. Only after the Sensex takes over resistance at ~28625, can we expect any resumption of the uptrend. At the same time, the risk-reward ratio favours going long at the current levels for a target of 29000/higher in the days to come. Keep a trailing SL at 28355 for any longs that you build, after reading this.

Date
19-Sep-16
S2
28,495
S1
28,550
Sensex Previous Close
                                    28,599.03
R1
28,624
R2
28,779
Sensex Fair Value
27,872


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