Market Data

Showing posts with label bounced off lows. Show all posts
Showing posts with label bounced off lows. Show all posts

Wednesday, September 11, 2019

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
Date11-Sep-19
IndexSensexNifty
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 Value29,5688,758

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Monday, August 19, 2019

The Sensex Outlook for the Week Starting 19-08-2019


The markets manage to bounce off the lows of the day, 
but cannot sustain the highs as well. With the mildly positive cues from SGX Nifty and around, 
expect a positive opening. However, do not see a sustained rally/ upmove yet.
Its a matter of time before the supports around 37000-36950 break away.

Index Levels to Watch & Fair Value
Date 19-Aug-19
Index Sensex Nifty
S2            37,256           11,020
S1            37,300           11,033
Previous Close     37,350.33    11,047.80
R1            37,399           11,062
R2            37,444           11,076
Fair Value 29,501 8,726

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Tuesday, June 18, 2019

The Sensex Outlook for the Day - 18-06-2019



The markets did bounce off (marginally) from the supports given yesterday (38911 {38900 given as the support in this column} and 11657 {11660 given as the support in this column}). Going forward, we're not completely out of the woods, use any rise to short the markets afresh. Only with a close above 39125 (11721), will the bears be in a retreating mode. Use these levels as the closing SL for all fresh and existing shorts.

Date 18-Jun-19
Index Sensex Nifty
S2            38,911           11,657
S1            38,928           11,662
Previous Close     38,960.79    11,672.15
R1            39,125           11,721
R2            39,245           11,757
Fair Value 29,119 8,724

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Thursday, May 2, 2019

The Sensex Outlook for the Day - 02-05-2019

On Tuesday, the markets bounced off the day's lows to close only marginally lower. The technical setup of the market this morning remains the same as it was on Tuesday morning.

Expecting a down opening, however any rise or pull-back can be used to initiate fresh shorts.

The SL for short positions for the day will be at 39157.

Date 02-May-19
Index Sensex Nifty
S2            38,943           11,723
S1            38,971           11,731
Previous Close     39,031.55    11,748.15
R1            39,106           11,772
R2            39,157           11,787
Fair Value 27,905 8,400


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