Even though the trailing SL level of 38700 was violated on an intraday basis, the Sensex is currently poised just above a crucial support level.
We could see a possibly (?) last bounce from the current levels to the near term target of 39063 given earlier in this column.
Book profits/exit longs as per your risk-reward appetite - without bothering about SL levels.
The short to medium term outlook continues to be bearish and we will see substantially lower levels in the days/weeks to come.
| Date | 30-Aug-18 | |
| Index | Sensex | Nifty |
| S2 | 38,641 | 11,667 |
| S1 | 38,680 | 11,679 |
| Previous Close | 38,722.93 | 11,691.90 |
| R1 | 38,771 | 11,706 |
| R2 | 38,797 | 11,714 |
| Fair Value | 32,071 | 9,683 |
