Friday, March 13, 2020

The Sensex Outlook for the Day 13-03-2020

Again, with the global cues, as they are - expect a Gap-Down opening to our markets today as well.
While we are trading at levels from where a bounce back is possible, its difficult to see that happening in the near term as the markets are being pounded on the basis of global fear factors. If you have been short on the markets, it would be a good idea to use the expected Gap-Down opening to book profits and reduce your positions before the weekend.
This is no time for long term investors/value-seekers to enter the markets.

Index Levels 
Date13-Mar-20
IndexSensexNifty
S2           32,237             9,432
S1           32,636             9,548
Previous Close      32,778.14        9,590.15
R1           33,248             9,728
R2           33,483             9,796
Fair Value           34,617           10,128
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