Wednesday, April 12, 2017

The Sensex Outlook for the day - 12-04-2017




Nobody needs to be a great analyst or chartist to realize that the markets are stuck in a narrow range. There is no reason at the moment to break-out of the range in either directions – so since we're on the upper end of the range, its time to be cautious or book some trading profits. Any significant move out of the 29500-29850/29900 (9147-9256/9271) band will see a breakout in that direction – but highly unlikely in the near term.

Date
12-Apr-17
S2
29,597

9,178
S1
29,721

9,216
Previous Close
                                    29,788.35

              9,237.00
R1
29,805

9,242
R2
29,841

9,253
Fair Value
26,832

8,320


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