Market Data

Sunday, July 7, 2019

The Sensex Outlook for the Week Starting - 08-07-2019

Along with the budget, the near term top is now behind us. 
From the current levels to 39982 levels (11950), the markets face a minefield of resistances.  
On the downside, if yesterday's low of 39441 is broken, the fall could accelerate and extend all the way down to 39090,38871 (11790,11619). 
It is prudent to remain short on the indices and look at specific stocks as trading longs.   
Index Levels to Watch & Fair Value
Date 08-Jul-19
Index Sensex Nifty
S2            39,441           11,790
S1            39,487           11,803
Previous Close     39,513.39    11,811.15
R1            39,529           11,816
R2            39,597           11,836
Fair Value 28,655 8,565

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