Sunday, October 23, 2016

The Sensex Outlook for the Week Starting 24-10-2016


The Sensex managed to hold 27465 (which was given as a crucial support for the Sensex in this column last week) and staged a smart bounce back from 27488. The rally from 27488 is just starting and has ample steam left. Continue to build longs at current levels and on dips till 27904. The immediate target for the Sensex is 28325 and only a close below 27900 will reset the current bullish setup to neutral.
Date
24-Oct-16
S2
27,972
S1
28,066
Sensex Previous Close
                                    28,077.18
R1
28,169
R2
28,232
Sensex Fair Value
27,302




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