Sunday, February 23, 2020

The Sensex Outlook for the Week Starting 24-02-2020

The near term support for the market lies at 40993/12029 and the resistance at 41270/12100. 
Expect the markets to consolidate in this range with a negative bias. A sustained close below the lower end of the trading range will push the markets closer to 40520/11900 levels.
Continue to remain short on the NIFTY while looking at stock-specific longs. 
Aggressive traders can short the BANKNIFTY as well - however, as always, all short positions should be inline with your MTM capacity & Risk Appetite.

Index Levels 
Date24-Feb-20
IndexSensexNifty
S2           41,129           12,069
S1           41,140           12,072
Previous Close      41,170.12      12,080.85
R1           41,206           12,092
R2           41,262           12,108
Fair Value           34,244           10,048
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