Thursday, April 16, 2020

The Sensex Outlook for the Day - 16-04-2020

Even though the markets corrected significantly from the day's high, the near term trend remains positive above ~29900/8785.
Continue to remain long/ keep adding to your longs at the current levels and on dips. 
The near term targets for the markets are ~32400/9500. Conservative traders can keep a trailing SL at 29900/8785 .
Avoid trading in stocks outside the F&O universe and keep SL at the stock level as well as at the Sensex/Nifty level.

Date16-Apr-20
IndexSensexNifty
S2           30,222             8,879
S1           30,372             8,923
Previous Close      30,379.81        8,925.30
R1           30,438             8,942
R2           30,483             8,956
Fair Value           34,533           10,145
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