Wednesday, August 12, 2020

The Sensex Outlook for the Day 12-08-2020

Even though the Closing SL (38221 / 11267) was triggered for conservative traders - the nearterm bearish outlook still holds.
Till the time the markets do not take out the levels of 38600/11380 on a closing basis, the outlook remains a SELL only.
The near term targets on the downside are 37807 (11145) and 37498 (11054).
In stocks, we continue to have aggressive longs as well as shorts.

Date 12-Aug-20
Index Sensex Nifty
S2            38,332            11,300
S1            38,366            11,310
Previous Close       38,407.01       11,322.50
R1            38,425            11,328
R2            38,556            11,367
Fair Value            29,801              8,785


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