Sunday, October 16, 2016

The Sensex Outlook for the Week Starting 17-10-2016


The level of 27465 is a crucial support for the Sensex. A close below 27465, could see the Sensex fall below 27000 also. However, while we might see a touch and go at 27465, I don’t expect the Sensex to breach this level anytime soon. As long as this level is not breached, a resumption of the uptrend cannot be ruled out. Continue to accumulate longs at current levels and on dips upto 27465 for a near term target of 28000.
Date
17-Oct-16
S2
27,548
S1
27,662
Sensex Previous Close
                                    27,673.60
R1
27,727
R2
27,764
Sensex Fair Value
27,155



--
Raghav @ Raghav’s Picks


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