Sunday, December 11, 2016

The Sensex Outlook for the Week Starting 12-12-2016


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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