Thursday, August 30, 2018

The Sensex Outlook for the Day - 30-08-2018

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



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