Tuesday, August 18, 2020

The Sensex Outlook for the Day 18-08-2020


Inspite of yesterday's rise, nothing has changed for the markets. 
The levels of 38500/11360 are now a huge/formidable resistance for the markets.
The downside will accelerate further till 37464/11050 in the days to come.
The target for this dip should be 36300/10700.
Keep a closing SL at 38541/11375 and remain short.

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

Date 18-Aug-20
Index Sensex Nifty
S2  37,973   11,224 
S1  37,993   11,230 
Previous Close  38,050.78   11,247.10 
R1  38,080   11,256 
R2  38,103   11,263 
Fair Value  29,182   8,626 



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