Sunday, October 9, 2016

The Sensex Outlook for the Week Starting 10-10-2016

The Sensex is poised at a very strong support zone. I will stick my neck out and initiate aggressive longs (in-line with what I have been telling  the whole of last week – “Will wait to initiate longs at lower levels.“ I think the lower levels for the time being are upon us.)

My assertion of a strong rally will fall flat only if the Sensex closes below 27931. (Keep this level as a stop-loss for all longs henceforth).

Date
10-Oct-16
S2
27,898
S1
27,965
Sensex Previous Close
                                    28,061.14
R1
28,156
R2
28,321
Sensex Fair Value
27,234



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