Tuesday, February 25, 2020

The Sensex Outlook for the Day 25-02-2020

A near term bounce after yesterday's rout is a given - however the trend remains clearly downward. 
Those who have been following this column for a longer period know that I have been extremely bearish on the markets for quite some time now. 
The Coronavirus pandemic is just the current excuse for the markets to crash, the reason may change tomorrow and day after, but the targets remain the same - ~39600 on the Sensex and ~11600 on the Nifty in the coming months, if not weeks.

Index Levels 
Date25-Feb-20
IndexSensexNifty
S2           40,117           11,757
S1           40,212           11,785
Previous Close      40,363.23      11,829.40
R1           40,538           11,881
R2           40,569           11,890
Fair Value           34,214           10,027
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