Market Data

Friday, October 16, 2020

The Sensex Outlook for the Day 16-10-2020

Yesterday's crash has pushed back the targets of 41960/12310 by a few days.
Conservative traders who had their SL's triggered at 40376/11850, then can look to re-enter into fresh longs above 40136/11800.

The levels of 39300/11555 are the final supports for the bulls, a sustained close below these levels could put the above targets in danger.

In the past also, we have seen swift-sharp-1-day corrections which gave way to even sharper rallies in the subsequent days. If the markets manage to close above 40136/11800 today, then yesterday's crash would be considered one such 1-day correction.

Date 16-Oct-20
Index Sensex Nifty
S2            38,738            11,389
S1            38,939            11,448
Previous Close       39,728.41       11,680.35
R1            39,956            11,747
R2            40,148            11,804
Fair Value            28,591              8,406


By reading this, you are agreeing to the Disclaimer and Exclusion of Liability at 


Subscribe via email

Enter your email address:

Delivered by FeedBurner