Friday, August 28, 2020

The Sensex Outlook for the Day 28-08-2020


The 5 day rally has a very strong supporter at 38830/11475 levels. While it is very difficult to ascertain the upside from the current levels, any meaningful downside will start only with a close below 38830/11475.  

If you're a conservative trader, stick to stock-specific opportunities - rather than take a directional call on the Indices.

Aggressive traders can hold on to their existing shorts, but add fresh shorts only with a close below these levels.

Date 28-Aug-20
Index Sensex Nifty
S2            39,010            11,529
S1            39,047            11,540
Previous Close       39,113.47       11,559.25
R1            39,149            11,570
R2            39,187            11,581
Fair Value            28,723              8,489

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