Wednesday, April 8, 2020

The Sensex Outlook for the Day 08-04-2020

We are in a bear market rally. It's difficult to say where such a rally starts (~25600/7500 this time) and where will it end (~36600/10700 possibly or even higher). 
The best thing to do now is to Make Hay While the Sun is Shining. 

Remain Long, add to your longs with a closing stop-loss at 28850/8435.

The near term trend is firmly bullish and the long term trend continues to remain down.
Investors still have to wait, patiently for maybe until early 2021 before committing long term funds in this market.

Date8-Apr-20
IndexSensexNifty
S2           29,434             8,607
S1           29,609             8,658
Previous Close      30,067.21        8,792.20
R1           30,216             8,836
R2           30,481             8,913
Fair Value           34,050             9,957
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