Market Data

Showing posts with label near term top. Show all posts
Showing posts with label near term top. Show all posts

Sunday, November 17, 2019

The Sensex Outlook for the Week Starting 18-11-2019

The near term top for the markets is in place at 40749. I do not foresee a newer high in the balance of this calendar year 2019. Having said that the top is in place, we are in the middle of a consolidation phase for the markets. The markets do bounce off the day lows, every day but also fail to sustain the higher levels as well. Sooner than later, this consolidation phase will give way to a deeper correction.  

Those who are patiently holding their NIFTY short positions will be amply rewarded closer to the November expiry.

Index Levels 
Date18-Nov-19
IndexSensexNifty
S2           40,286           11,874
S1           40,327           11,887
Previous Close      40,356.69      11,895.45
R1           40,438           11,920
R2           40,482           11,932
Fair Value           31,402             9,256
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Sunday, July 7, 2019

The Sensex Outlook for the Week Starting - 08-07-2019



Along with the budget, the near term top is now behind us. 
From the current levels to 39982 levels (11950), the markets face a minefield of resistances.  
On the downside, if yesterday's low of 39441 is broken, the fall could accelerate and extend all the way down to 39090,38871 (11790,11619). 
It is prudent to remain short on the indices and look at specific stocks as trading longs.   
Index Levels to Watch & Fair Value
Date 08-Jul-19
Index Sensex Nifty
S2            39,441           11,790
S1            39,487           11,803
Previous Close     39,513.39    11,811.15
R1            39,529           11,816
R2            39,597           11,836
Fair Value 28,655 8,565

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Thursday, March 7, 2019

The Sensex Outlook for the Day 08-03-2019

We saw that the markets showed signs of tiredness/fatigue towards the end of the trading session.
Expect heightened volatility with a negative bias. Continue to add to your puts/shorts.

Date 08-Mar-19
Index Sensex Nifty
S2          36,601         11,021
S1          36,651         11,036
Previous Close   36,725.42   11,058.20
R1          37,003         11,142
R2          37,068         11,162
Fair Value 27,886 8,397


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Sunday, September 2, 2018

The Sensex Outlook for the Week Starting - 03-09-2018




The markets are clearly showing signs of fatigue - expecting the bulls to hold on to their fort for a day or 2 at the maximum.
Then its correction followed by meltdown, inter-spaced by brief rallies.
Exit longs, finally.

Date 03-Sep-18
Index
Sensex Nifty
S2 38,562 11,654
S1 38,572 11,657
Previous Close   38,645.07 11,680.50
R1 38,682 11,690
R2 38,739 11,707
Fair Value 32,060 9,689







Wednesday, August 2, 2017

The Sensex Outlook for the Day - 02-08-2017

The markets are at a near term top. Irrespective of the credit policy, the chances of the markets tanking before EoD are very high, so trade accordingly. Keep a trailing SL at 32467.

Date2-Aug-17
IndexSensexNifty
S232,52010,098
S132,55610,109
Previous Close32,575.17 10,114.65
R132,63210,132
R232,85410,201
Fair Value27,3038,478



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Thursday, July 27, 2017

The Sensex Outlook for the Day - 27-07-2017

The markets are poised at what seems to be the near-term top. We could either rise fast towards 32600/32700 or get into a free-fall from here. 
Keep a trailing SL at 32221 or 32160 depending on your risk appetite. 
Personally, I will continue to initiate aggressive longs for the targets of 32600/32700; keeping a trailing SL at 32160.

Date27-Jul-17
IndexSensexNifty
S232,34110,008
S132,37010,017
Previous Close32,382.46 10,020.65
R132,41410,030
R232,64410,101
Fair Value28,1178,701
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Tuesday, March 21, 2017

The Sensex Outlook for the day - 21-03-2017


The markets did correct from the near-term tops, thankfully however the SL level of 29450 was not violated. Expect a moderate bounce back from the current levels. Buy on dips upto 29482.
The targets of 29950/9250 (cash levels) before the FnO expiry still stand. However, these targets will be negated with a close below 29450.

Date
21-Mar-17
Index
Sensex

Nifty
S2
29,410

9,093
S1
29,482

9,116
Previous Close
                                    29,518.74

              9,126.85
R1
29,567

9,142
R2
29,699

9,183
Fair Value
26,772

8,278




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