Monday, July 2, 2018

The Sensex Outlook for the Week Starting 02-07-2018


​​I wouldn't read too much into Friday's rise and change my near term outlook on the markets. Even after Friday's rise, we are left with a 266 point weekly fall on the Sensex (and 107 on the Nifty).

Multiple failures to cross and sustain key resistances above 35700 have left the markets vulnerable to breaking supports and crashing.



Exit weak long positions on every rise. Initiate aggressive shorts at every level; with a SL at 35779. 



Date 02-Jul-18
Index Sensex Nifty
S2 35,328 10,686
S1 35,414 10,712
Previous Close                               35,423.48 10,714.30
R1 35,453 10,724
R2 35,459 10,726
Fair Value 32,368 9,791



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