Sunday, August 6, 2017

The Sensex Outlook for the Week Starting 07-08-2017

I had mentioned in this column last week that we could see some more downside, before the markets resume the uptrend. I had given the trailing SL level at 32104 and the Sensex hit the weekly low at 32108! 

Going forward we could see some consolidation around the 32200-32300 band, but its safe to assume that the markets have bottomed-out at 32108.

Buy at the current levels and on dips till 32232 and keep the same as a trailing SL.
Aggressive traders and those with a slightly medium term outlook can keep a trailing SL at 32108.

Date7-Aug-17
IndexSensexNifty
S232,23210,037
S132,26210,047
Previous Close32,325.4110,066.40
R132,35010,074
R232,40410,091
Fair Value27,2538,487


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