Sunday, January 26, 2020

The Sensex Outlook for the Week Starting 27-01-2020

The weekly change in the indices gives no hint of the volatile swings we saw in the week gone by. And this has been the pattern over the last 5 weeks - huge swings & newer highs, but moderate closings on a weekly basis.

Going forward into F&O Expiry + Budget Week, the markets will continue to face immense headwinds / selling pressure at every rise. 

Rarely has any Budget enthused the markets immediately and after almost all Budgets, the markets have tanked - no matter how Good/Bad or Mediocre the Budget was.
Why should this year be any different? 

Use any rise/rally to build INDEX aggressive shorts in the run-up to the budget. (Off-course, all short positions have to be inline with your MTM capacity). 

My bearish outlook will remain in place as long as the markets trade below 41700/12275 and will be negated with a sustained close above 41985/12357.

Index Levels 
Date27-Jan-20
IndexSensexNifty
S2           41,486           12,211
S1           41,538           12,226
Previous Close      41,613.19      12,248.25
R1           41,630           12,253
R2           41,653           12,260
Fair Value           34,012           10,011
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