Monday, October 8, 2018

The Sensex Outlook for the Week Starting - 08-10-2018




All the targets given in this column all through the last week were met - 35350 (10670), 34443 (10380) and 34289 (10334).
With all key supports broken and the market technicals damaged badly, we will fall further.
However, the speed and intensity of the downtrend may reduce considerably from this point onwards - infact further falls will be inter-spaced with brief rally's and strong pull-backs.
Be it time correction/price correction or volatile consolidation - a bottom may emerge only after 11th December 18, when the state elections will be out.
For the day/week - trade the opening trend with the supports and resistance levels as given.

Date 08-Oct-18
Index Sensex Nifty
S2 33,712 10,118
S1 34,202 10,265
Previous Close   34,376.99 10,316.45
R1 34,566 10,374
R2 34,641 10,396
Fair Value 32,289 9,691




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