Monday, March 16, 2020

The Sensex Outlook for the Week Starting 16-03-2020

The markets showed some signs of stabilizing on Friday and a near term bottom seems to be in place. 
While the cues from SGX Nifty point to a lower opening this morning, aggressive traders can remain long/go long with a trailing SL at 32079/9364.
Upsides, for now, seems to be capped at ~34553/10086.

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

Index Levels 
Date16-Mar-20
IndexSensexNifty
S2           32,754             9,561
S1           33,662             9,826
Previous Close      34,103.48        9,955.20
R1           34,193             9,981
R2           34,553           10,087
Fair Value           34,218             9,989
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