The Sensex Outlook for the Day 13-09-2019

We saw yesterday that positive global cues at the opening time have no bearing on the closing of our markets. Primarily, because our markets cannot sustain higher levels. Till 37488, the trend remains firmly downwards. Only with a sustained close above 37488 (11098) will the market outlook change to neutral from the current bearish. Till then, remain short for a near/short term target of 36102 (10680). 

Index Levels to Watch & Fair Value
Date	13-Sep-19
Index	Sensex	Nifty
S2	36,982	10,947
S1	37,029	10,961
Previous Close	37,104.28	10,982.80
R1	37,126	10,989
R2	37,160	10,999
Fair Value	29,380	8,696

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The Sensex Outlook for the Day 12-09-2019

Yesterday was a day of quiet consolidation for the markets.The Sensex even closed almost exactly at the mid-point between the day's high & low.The next hurdle for the Sensex is 37482. Only with a sustained close above 37482 (11098) will the market outlook change to neutral from the current bearish. Till then, remain short for a near/short term target of 36102 (10680).

Index Levels to Watch & Fair Value
Date	12-Sep-19
Index	Sensex	Nifty
S2	37,200	11,015
S1	37,229	11,023
Previous Close	37,270.82	11,035.70
R1	37,343	11,057
R2	37,482	11,098
Fair Value	29,578	8,758

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The Sensex Outlook for the Day 11-09-2019

The markets bounce off from the day lows but shy from the day high's as well - many see this as a base building for the next leg of the rally.However, things will get far worse before getting better. Do not get carried away with any rise - today or tomorrow.

The recent low of 36102 is waiting to be violated once again, giving way to the short term target of 35468 (10498). 

Index Levels to Watch & Fair Value
Date	11-Sep-19
Index	Sensex	Nifty
S2	36,872	10,922
S1	37,058	10,977
Previous Close	37,145.45	11,003.05
R1	37,332	11,058
R2	37,424	11,086
Fair Value	29,568	8,758

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The Sensex Outlook for the Week Starting 09-09-2019

The markets face tremendous resistance between the current levels and 37200 (~11000). It remains to be seen if these resistances can be taken out anytime soon.

On the downside, the recent low of 36102 is waiting to be violated once again, giving way to the short term target of 35468 (10498). 

Index Levels to Watch & Fair Value
Date	9-Sep-19
Index	Sensex	Nifty
S2	36,896	10,921
S1	36,907	10,924
Previous Close	36,981.77	10,946.20
R1	37,013	10,955
R2	37,098	10,981
Fair Value	29,493	8,730

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The Sensex Outlook for the Day 04-09-2019

The market action has vindicated the bearish outlook given in the column over the last few weeks, however the pain is not over yet.It is a matter of time before the Sensex breaks the recent low of 36102.However the next targets for the markets are ~35900 (10600) and 35456 (10470). Any rise can be used to initiate aggressive shorts. Do not try to find value at these levels or do bottom-fishing.

Index Levels to Watch & Fair Value
Date	4-Sep-19
Index	Sensex	Nifty
S2	36,284	10,716
S1	36,466	10,769
Previous Close	36,562.91	10,797.90
R1	36,739	10,850
R2	36,761	10,856
Fair Value	29,796	8,799

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The Sensex Outlook for the Week Starting 26-08-2019

Inspite of the positive announcements by the FM post market on Friday, the short term trend remains down.We will see a gap-up and also possibly a small rally, but do not see any rally sustaining above 37100/10947. Initiate opening longs with a strict SL at 36102 (Friday's Low) / 10650.

Index Levels to Watch & Fair Value
Date	26-Aug-19
Index	Sensex	Nifty
S2	36,537	10,781
S1	36,625	10,807
Previous Close	36,701.16	10,829.35
R1	36,745	10,842
R2	36,891	10,885
Fair Value	29,774	8,785

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