The Sensex Outlook for the Day - 06-04-2018

  

The Sensex now needs to take out yesterday's high of 33637 for the rally from the 32900 zone to gain further boost.

However I don't see that happening today.

On the downside,as long as the Sensex trades above 33405 today, the near term outlook remains bullish.

Depending on your risk appetite, trade light for the day or simply hold on to your existing longs with a SL at 33405.

Date	6-Apr-18
Index	Sensex	Nifty
S2	33,501	10,295
S1	33,515	10,300
Previous Close	33,596.80	10,325.15
R1	33,637	10,337
R2	33,877	10,411
Fair Value	29,751	9,143

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The Sensex Outlook for the Day - 05-04-2018

  

The so-called "Trade Wars" be damned. The Sensex corrected from a high of 33505 and then settled just above 33973. We are clearly in a well-defined trading range and

the markets are in no mood to break this range anytime soon.

What bothers me is when the Sensex is tired of playing ping-pong in the 32900-33500 range and there is no incentive to break on the upside - how low could we fall from the recent lows???

For now, just play this range, with a clear trailing SL at 32900 and a target of 33500.

Date	5-Apr-18
Index	Sensex	Nifty
S2	32,948	10,107
S1	32,996	10,121
Previous Close	33,019.07	10,128.40
R1	33,041	10,135
R2	33,136	10,164
Fair Value	29,817	9,146

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The Sensex Outlook for the Day - 04-04-2018

  

The near term outlook is cautiously bullish - the important thing is to see if the Sensex manages to cross and sustain 33535+. A failure to cross this level convincingly will put the markets back into the 32800/32900-33100/33300 trading range.

Hold on to your longs, add small-staggered longs for a near term target of 33500 while keeping a trailing SL at 33286.

Date	4-Apr-18
Index	Sensex	Nifty
S2	33,309	10,227
S1	33,332	10,234
Previous Close	33,370.63	10,245.00
R1	33,403	10,256
R2	33,535	10,296
Fair Value	29,794	9,148

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The Sensex Outlook for the Week Starting 02-04-2018

  

The markets are in a tight range of 32900-33100. Any movement outside this range will take the markets deeper in that direction.

As of now, I would take a contrarian call and build aggressive longs with a view that 33100 will be broken out of.

If you're a conservative trader, its better to trade light or not trade at all.

Others, like Yours Truly, keep a trailing SL at 32892 and go long with a vengeance!

Date	2-Apr-18
Index	Sensex	Nifty
S2	32,905	10,094
S1	32,940	10,104
Previous Close	32,968.68	10,113.70
R1	32,997	10,122
R2	33,037	10,134
Fair Value	29,927	9,180

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The Sensex Outlook for the Day - 08-03-2018

  

A fall below 32900 will only worsen things, but a close above 33200 will not necessarily change the outlook to neutral from currently negative.

32900-33200 should be the new range for the markets for now.

Its better to stick to stock specific opportunities, rather than long or short the Nifty

Date	8-Mar-18
Index	Sensex	Nifty
S2	32,914	10,118
S1	33,012	10,148
Previous Close	33,033.09	10,154.20
R1	33,123	10,182
R2	33,285	10,232
Fair Value	29,677	9,123

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The Sensex Outlook for the Day - 14-11-2017

Yesterday's support level continues to taunt the Sensex - as the resistance this time - 33127. The Sensex needs to close above 33127, before we can assume that the near term trend has turned positive once again.Continue to trade light as long as the Sensex is between the 32900-33127 range.

Date	14-Nov-17
Index	Sensex		Nifty
S2	32,833		10,163
S1	33,000		10,215
Previous Close	33,033.56		10,224.95
R1	33,073		10,237
R2	33,127		10,254
Fair Value	28,037		8,678

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