Thursday, November 5, 2020

The Sensex Outlook for the Day 05-11-2020

With the targets of 40500/11900 done, brace yourself for the next level targets of 41240/12100. 

However, traders must not get carried away with global euphoria - just as I had advised against getting bogged down with the news of fresh lockdowns in Europe which dragged down our markets last week.

Increase your SL levels (irrespective of whether you're an aggressive or conservative trader) to 40183/11782. We will lighten our long positions by tomorrow to look at the markets afresh next week.

Date 5 Nov 20
Index Sensex Nifty
S2            40,462            11,863
S1            40,498            11,874
Previous Close       40,616.14       11,908.50
R1            40,694            11,931
R2            40,976            12,014
Fair Value            30,164              8,844


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