Sunday, July 28, 2019

The Sensex Outlook for the Week Starting 29-07-2019

The markets are poised at extremely over-sold levels at the moment. A dead-cat bounce from the current levels cannot be ruled out in the extreme near term. 
Any rally/bounce till ~37915 (11294) odd levels can be sold into.
On the other hand, 37690 (11227) is a multi-period low and once broken - the next targets would be 37307 (11113), 37225 (11088) and 37144 (11064).

Index Levels to Watch & Fair Value
Date29-Jul-19
IndexSensexNifty
S2 37,725 11,237
S1 37,866 11,279
Previous Close 37,882.79 11,284.30
R1 37,915 11,294
R2 38,084 11,344
Fair Value29,0358,649
.

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