Sunday, July 21, 2019

The Sensex Outlook for the Week Starting 22-07-2019



The markets had topped out for the short to medium term when the Sensex hit 40312 in early June.
Now with Friday's crash, the markets have entered the decisive and lethal phase of the downtrend.
Our short term target for the indices stands at 37064 (11040) with brief periods of rally's and pullbacks inter-spaced in between.

Traders can short the markets at the current levels and on any rise till 38556 (11484) for a target of 37886 (11285) in this week.


Index Levels to Watch & Fair Value
Date 22-Jul-19
Index Sensex Nifty
S2            38,128           11,357
S1            38,271           11,400
Previous Close     38,337.01    11,419.25
R1            38,524           11,475
R2            38,556           11,484
Fair Value 28,709 8,551



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