Sunday, February 16, 2020

The Sensex Outlook for the Week Starting 17-02-2020

As indicated last week, we have a near term top at ~41700/~12250 from which the markets will only meander sideways/downwards.
The pace of the meandering/downward slide will vary. With domestic cues, including the last quarter's earnings, budget, and RBI policy behind us - the focus will be on global cues including the Corona Virus.

Continue to stick to stock-specific longs and index shorts. As I have always advised, please keep short positions on the NIFTY as per your risk appetite and MTM capacity.  

Index Levels 
Date17-Feb-20
IndexSensexNifty
S2           41,207           12,098
S1           41,223           12,103
Previous Close      41,257.74      12,113.45
R1           41,284           12,121
R2           41,325           12,133
Fair Value           34,450           10,115
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