Market Data

Wednesday, December 16, 2020

The Sensex Outlook for the Day 16-12-2020

The markets recovered very smartly from yesterday's lows - just a tad above the final support levels of 45781/13420  given in this column yesterday.
However, our outlook remains unchanged from yesterday - Unless 46373/13600 is decisively taken out soon, the uptrend will pause/die out soon.

We continue to have short positions on the NIFTY and the BANKNIFTY, and stock-specific long positions. We will relook/exit our shorts only if the markets manage to hold 46400/13610.

Date16 Dec 20
IndexSensexNifty
S2 46,152 13,535
S1 46,205 13,551
Previous Close 46,263.17 13,567.85
R1 46,344 13,592
R2 46,373 13,600
Fair Value 29,358 8,610 

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