Wednesday, October 9, 2019

The Sensex Outlook for the Day 09-10-2019

Within the overall downtrend, the markets are looking oversold at the current levels and a bounce cannot be ruled out. Having said that, the markets do face heavy resistance at
37752 (11192). So the best case for today would be to consolidate around 37600 (11150) before making the next down move in some days. The near term trend will turn positive only after 37900 (11236) is taken out convincingly.

Index Levels 
Date9-Oct-19
IndexSensexNifty
S2           37,441          11,099
S1           37,505          11,118
Previous Close    37,531.98   11,126.40
R1           37,579          11,140
R2           37,644          11,160
Fair Value         29,749           8,819

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