Monday, September 17, 2018

The Sensex Outlook for the Week Starting - 17-09-2018


We get into another truncated trading week.
The strong upmoves we saw in the last 2 trading sessions were the result of short-covering and could continue for the Monday opening as well.
However, this short-covering does not imply that the downtrend has been arrested or that the uptrend will resume anytime soon.
The region around 38200/11550 is perfect for creating fresh short positions.

Date 17-Sep-18
Index Sensex Nifty
S2 38,029 11,496
S1 38,052 11,503
Previous Close   38,090.64 11,515.20
R1 38,126 11,525
R2 38,234 11,558
Fair Value 31,878 9,637




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