Sunday, January 15, 2017

The Sensex Outlook for the Week Starting 16-01-2017



The Sensex seems to be comfortably ensconced above 27000. While the near term target now stands at 27555, the pace of the rally could slow down as there is a fresh new harvest of resistances right from 27280 to 27488; so it remains to be seen as to how the soon the Sensex manages to navigate the same.

Use all dips till 27096 to initiate aggressive longs. The outlook remains positive as long as the Sensex trades above 27019 (for conservative traders) or 26952 (for aggressive traders).  

Date
16-Jan-17
Index
Sensex

Nifty
S2
27,096

8,357
S1
27,143

8,371
Previous Close
                                    27,238.06

              8,400.35
R1
27,280

8,413
R2
27,305

8,421
Fair Value
26,227

8,089




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