Sunday, March 8, 2020

The Sensex Outlook for the Week Starting 09-03-2020

The near term bottom seems to be in place at 37011/10824. We could see a rally/bounce from the current levels.
Traders can go long with a trailing SL at 37380/10930 for targets of ~38000/11100. The targets could progressively go up further in the near to short term.

The long term trend continues to remain down - investors still have to wait, patiently before committing long term funds in this market.

Index Levels 
Date09-Mar-20
IndexSensexNifty
S2           37,379           10,932
S1           37,445           10,951
Previous Close      37,576.62      10,989.45
R1           37,748           11,040
R2           37,875           11,077
Fair Value           34,383           10,055
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