Friday, August 14, 2020

The Sensex Outlook for the Day 14-08-2020

The markets face a huge wall of resistance from 38330 to all the way up to 38500 (11305-11350). 
Till the time these levels are conquered on a closing basis, the near term outlook would remain a SELL only. 
On the other hand, a close below 38215/11273 will accelerate the move towards 37900/11180 and subsequently 37400/11000.

In stocks, we continue to have aggressive longs as well as shorts.

Date 14-Aug-20
Index Sensex Nifty
S2  38,218   11,273 
S1  38,262   11,286 
Previous Close  38,310.49   11,300.45 
R1  38,330   11,306 
R2  38,362   11,316 
Fair Value  29,895   8,818 



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