Friday, November 16, 2018

The Sensex Outlook for the Day - 16-11-2018


The Sensex came tantalizingly close to the magic level of 35410, but chose to close lower. Aggressive traders can short the opening rise,if any. Others can wait for Monday to initiate aggressive short positions on the indices. Do not be carried away with any rally/rise - the markets may come very close to levels where the near term trend changes to positive, but they will not convincingly cross/sustain above these levels anytime soon.

Date 16-Nov-18
Index Sensex Nifty
S2 35,182 10,594
S1 35,221 10,606
Previous Close   35,260.54 10,616.70
R1 35,314 10,634
R2 35,402 10,660
Fair Value 31,508 9,488



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