Thursday, March 12, 2020

The Sensex Outlook for the Day 12-03-2020

With the global cues, as they are - expect a Gap-Down opening to our markets as well.
However, I would expect our markets to stabilize around ~35400/10375. A close below these levels will take the markets closer to ~30800/9000.
For the time being, upsides are also capped at ~35900/10520.
While this is no market for investors/value seekers but after today, even traders will need to be extremely cautious - since, after last Friday, we have been totally driven by global cues. And the global cues, in turn, are driven by the economic and political impact of the Corona Virus pandemic.

Index Levels 
Date12-Mar-20
IndexSensexNifty
S2           35,660           10,448
S1           35,677           10,452
Previous Close      35,697.40      10,458.40
R1           35,794           10,487
R2           35,908           10,520
Fair Value           34,051             9,976
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