Wednesday, October 17, 2018

The Sensex Outlook for the Day - 17-10-2018

The pull-back/rally from the lows of 33724 now faces its biggest resistance at 35401.The key to further upside lies in closing above and sustaining 35401 till atleast Monday.
Personally, I doubt that happening and I continue to hold on to puts/short positions. 
For the day, only aggressive traders can initiate small intraday longs with a strict SL. 

Date 17-Oct-18
Index Sensex Nifty
S2 35,063 10,555
S1 35,097 10,565
Previous Close   35,162.48 10,584.75
R1 35,216 10,601
R2 35,401 10,657
Fair Value 32,151 9,678

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