Sunday, December 23, 2018

The Sensex Outlook for the Week Starting 24-12-2018

For a truncated trading week, with the FnO Expiry also included - this week promises to be action packed.
However, the near term trend is clearly downwards.
The near-term targets for the markets are 35550 (10690) followed by ~34400 (~10350) in early January. 
There could be intermittent rallies from here to 34400-odd levels, but one need not get fooled by such rallies and build long positions for now.
Hold on to your shorts, initiate fresh shorts and keep booking part profits in the short positions.
Date24-Dec-18
IndexSensexNifty
S235,65510,727
S135,69510,738
Previous Close  35,742.0710,754.00
R135,82110,776
R235,86310,789
Fair Value31,4109,449

GenerateChart (1).pngGenerateChart.png


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