Sunday, December 18, 2016

The Sensex Outlook for the Week Starting 19-12-2016

As it happens frequently, the market action last week was in-line with the outlook given here : “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.”  

The Sensex is now poised at an important support zone and the outlook will change to negative from that of volatile-consolidation only with a close below 26400.


Date
19-Dec-16
S2
26,455
S1
26,470
Sensex Previous Close
                                    26,489.56
R1
26,513
R2
26,595
Sensex Fair Value
26,311


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