Sunday, July 8, 2018

The Sensex Outlook for the Week Starting 09-07-2018


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​The market action last week was completely opposite the bearish expectations outlined in this column last week. 

However my outlook has only turned to EXTREMELY CAUTIOUS from VERY BEARISH.

The ability or rather inability of the Sensex to cross the Highs of the previous days - specifically the region from 35738 to 35799 - will set the tone for the markets in the days to come.

We continue to live in the constant fear of negative global cues taking the markets down to unpalatable levels - hence we are holding Out-of-Money Nifty Puts, which we continue to add to, on all days when the markets rise.​

Date 09-Jul-18
Index Sensex Nifty
S2 35,504 10,726
S1 35,626 10,763
Previous Close                               35,657.86 10,772.65
R1 35,738 10,797
R2 35,769 10,806
Fair Value 32,340 9,770







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