Thursday, November 22, 2018

The Sensex Outlook for the Day - 22-11-2018


The Sensex should revisit 34300 in the days to come.The downtrend may not always be in a straight line, we will see bounce-backs and jumps and gap-up's, but the near term target is clearly ~34300.
Accordingly, hold on to your shorts and keep initiating fresh shorts. Expect heightened volatility today - in both the directions on account of the weekly BankNifty Options expiry and also being the last trading day of the week.

Date 22-Nov-18
Index Sensex Nifty
S2 34,776 10,472
S1 34,878 10,502
Previous Close   35,199.80 10,644.25
R1 35,269 10,620
R2 35,291 10,627
Fair Value 31,634 9,525



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