Sunday, January 27, 2019

The Sensex Outlook for the Week Starting 28-01-2019

The start of the previous week saw the markets falter from ~36500 and higher levels - this was on expected lines. 

Towards the end of the week, the resistance zone shifted to ~36400 levels and now as we stare at the F&O expiry week, the resistance zone has shifted to the 36080-36110 -36200 range. 

The markets are not going past this zone anytime soon.

Traders are better-off initiating aggressive shorts positions with a trailing SL at 36200 for a sub-35800 target in the near term.

Date 28-Jan-19
Index Sensex Nifty
S2 35,953 10,758
S1 35,996 10,771
Previous Close   36,025.54 10,780.55
R1 36,081 10,796
R2 36,110 10,805
Fair Value 31,421 9,402




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