Thursday, October 29, 2020

The Sensex Outlook for the Day 29-10-2020

The markets failed to cross resistances for 3 days in a row and finally found support around 39900/11700. 
Going forward, while the targets of 41000/12000 and higher on October expiry have gone for a toss,
expect the markets to consolidate around 39900/11700 for a little while before attempting to move up again.

Any opening dips can be used to initiate aggressive longs in today's expiry NIFTY calls for intraday gains.

Date 29 Oct 20
Index Sensex Nifty
S2            39,775            11,686
S1            39,900            11,723
Previous Close       39,922.46       11,729.60
R1            40,056            11,769
R2            40,120            11,788
Fair Value            28,874              8,483


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