Friday, August 7, 2020

The Sensex Outlook for the Day 07-08-2020


The markets face immense resistance around 38200/11250 and may not close above these levels anytime soon.

After tiring themselves trying to cross these levels, the bulls will retire hurt and the bears will take over the reins of the markets.

Hold on to your Index shorts as per your risk appetite and MTM capacity.

In stocks, we continue to have aggressive longs as well as shorts.
Date 07-Aug-20
Index Sensex Nifty
S2  37,905   11,165 
S1  38,001   11,193 
Previous Close  38,025.45   11,200.15 
R1  38,036   11,203 
R2  38,221   11,258 
Fair Value  30,082   8,860 

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