Tuesday, March 3, 2020

The Sensex Outlook for the Day 03-03-2020

After breaking yesterday's supports, the markets corrected all the way to 37786/11036 as against the given targets of ~37700/11000.
The erstwhile supports have now become resistances for the markets. Any rise will be sold into and capped at ~40000/11500.

As of now, its a remote possibility that the markets will reenter into a long term uptrend anytime soon.NIFTY shorts and stock-specific trading longs are the way forward for traders.

Index Levels 
Date03-Mar-20
IndexSensexNifty
S2           37,527           10,953
S1           37,754           11,019
Previous Close      38,144.02      11,132.75
R1           38,195           11,148
R2           38,338           11,189
Fair Value           34,240             9,993
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