Sunday, February 17, 2019

The Sensex Outlook for the Week Starting 18-02-2019

The markets bounced off 35511 on Friday and closed the week with a net loss of ~737 (219 on the Nifty) points. 
The low of Friday will serve as a support in the immediate future, however the upsides remain capped as there are a string of resistances from 35906 to 36054 which will unleash fresh and relentless selling every-time the markets come close.

The Geo-political tensions in the aftermath of the unfortunate Terror attacks have brought in a heightened uncertainty to the markets which were in a downtrend in anycase.

The trading range of ~35500-36100 will break on the lower side in the days to come. However, we will continue to see intermittent rally's and bounce-back's which can be safely sold into.

We continue to hold NIFTY PUTS and wait to look at stock specific opportunities.

Date 18-Feb-19
Index Sensex Nifty
S2          35,758         10,709
S1          35,781         10,716
Previous Close   35,808.95   10,724.45
R1          35,831         10,731
R2          35,906         10,754
Fair Value 32,461 9,722


--

By reading this Post, you are agreeing to
the Disclaimer and Exclusion of Liability at http://www.raghavs-picks.com/disclaimer.JPG   



Subscribe via email

Enter your email address:

Delivered by FeedBurner