The Sensex is currently poised at supports and faces resistance
from 26800 to all the way to 27200. Difficult to see the Sensex surmount these
resistances in a hurry. In the best case scenario, we could see the Sensex fall
back to ~26400 odd levels and then again attempt to take out the above
mentioned resistances. In the worst case scenario, the Sensex will continue to
consolidate in the 25900-26800 band. Better to take the markets one day at
time. Keep a trailing stop loss at 26410 for existing longs
|
Date
|
12-Dec-16
|
|
S2
|
26,693
|
|
S1
|
26,708
|
|
Sensex
Previous Close
|
26,747.18
|
|
R1
|
26,804
|
|
R2
|
26,905
|
|
Sensex Fair
Value
|
26,248
|
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