Monday, November 5, 2018

The Sensex Outlook for the Week Starting - 05-11-2018


The markets broke out of the bear grip to close the week with 1600/500+ gains. Some profit booking at the current levels cannot be ruled out after this rise and looking at the fact that the Sensex is staring at the ultimate resistance of 35408. A failure to convincingly cross 35408 will see the Sensex give up its recent gains in no time. Its best to trade with the flow, keeping Stop-Losses at both ends of the trading range.

Date 05-Nov-18
Index Sensex Nifty
S2 34,818 10,494
S1 34,951 10,534
Previous Close   35,011.65 10,553.00
R1 35,190 10,606
R2 35,408 10,671
Fair Value 31,791 9,581


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