Wednesday, November 4, 2020

The Sensex Outlook for the Day 04-11-2020

Yesterday was a trend - changer day in the markets and now the markets are very close to the targets of 40500/11900 given in this column only recently. 
Going forward, the SL levels are modified to 39878/11700, and the targets updated to 41240/12100.

We will continue to see bouts of volatility in the run-up to the targets of 40500-41240/11900-12100. We added NIFTY Puts yesterday and now we have more stock-specific longs as against NIFTY longs.

Date 4 Nov 20
Index Sensex Nifty
S2            40,192            11,793
S1            40,260            11,813
Previous Close       40,261.13       11,813.50
R1            40,355            11,841
R2            40,664            11,932
Fair Value            29,962              8,792


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