Thursday, May 18, 2017

The Sensex Outlook for the day - 18-05-2017


After a long time, we are going to see some awesome downward action, triggered by Global Cues!
This was expected in any case, the global cues are just the excuse.
However we could see some recovery during the day itself.
One can initiate fresh longs around 30500 and keep a trailing SL below 30385 (conservative traders) & below 30020  for aggressive traders.
After ~30800, we could see ~31000, subject to 30020 not being broken.
Date
18-May-17
Index
Sensex
Nifty
S2
30,547
9,491
S1
30,623
9,515
Previous Close
30,658.77
 9,525.75
R1
30,692
9,536
R2
30,950
9,616
Fair Value
27,021
8,395


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