Thursday, September 12, 2019

The Sensex Outlook for the Day 12-09-2019


Yesterday was a day of quiet consolidation for the markets.The Sensex even closed almost exactly at the mid-point between the day's high & low.The next hurdle for the Sensex is 37482. Only with a sustained close above 37482 (11098) will the market outlook change to neutral from the current bearish. Till then, remain short for a near/short term target of 36102 (10680).
Index Levels to Watch & Fair Value
Date 12-Sep-19
Index Sensex Nifty
S2            37,200           11,015
S1            37,229           11,023
Previous Close     37,270.82    11,035.70
R1            37,343           11,057
R2            37,482           11,098
Fair Value 29,578 8,758

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