Thursday, December 1, 2016

The Sensex Outlook for the Day - 01-12-2016

                                                       

The Sensex is now nearing the resistance zone @ ~26800. Failure to decisively cross this zone, could result in a fall-back to the recent lows. While I don’t see fresh lows for the markets anytime soon, we could end up in a wide consolidate range between 25900-26800. Increase the trailing stop-loss from 26246 to 26400. Continue to look at stock-specific opportunities than at the broader markets for now.

Date
1-Dec-16
S2
26,561
S1
26,576
Sensex Previous Close
                                    26,652.81
R1
26,681
R2
26,793
Sensex Fair Value
26,269




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