Friday, February 28, 2020

The Sensex Outlook for the Day 28-02-2020

If the bears pause at 39565/11580 today, we could see a small bounce in the near term. 
However, if these levels are broken on a closing basis, then the markets will eventually break 39400/11500 
and head towards sub 39000/11400 levels in the coming days. 
Nevertheless, it makes sense to book profits on your short positions before the weekend and wait for Monday to initiate fresh shorts. 

Index Levels 
Date28-Feb-20
IndexSensexNifty
S2           39,565           11,580
S1           39,706           11,622
Previous Close      39,745.66      11,633.30
R1           39,793           11,647
R2           39,875           11,671
Fair Value           34,123             9,988


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