Sunday, February 18, 2018

The Sensex Outlook for the Week Starting 19-02-2018

The Sensex just about managed to hold on to 34000 - but the damage has already been done! The region from 33900 - 34050 is a very strong support zone for the markets, however at the same time - 34100+ to especially around ~34150, the Sensex continues to be stuck in a minefield of resistances.

As long as Sensex manages to hold on to 33900, we are barely away from further mayhem in the markets, at the same time -  ~34150 is going to be a very tough nut to crack on the upside. Even if the Sensex does manage cross 34150, we have also seen what happens at ~34500, the other major speed-breaker on the upside.

Trade light till the Sensex manages to stabilize around 34100-34150.
  

Date
19-Feb-18
Index
SensexNifty
S2
33,22810,212
S1
33,95710,436
Previous Close
                      34,010.76                10,452.30
R1
34,05710,467
R2
34,10610,482
Fair Value
28,9058,883


 
​Devansh @ Raghav's Picks
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