Market Data

Showing posts with label pre budget rally. Show all posts
Showing posts with label pre budget rally. Show all posts

Sunday, February 2, 2020

The Sensex Outlook for the Week Starting 03-02-2020

A substantial part of the market technicals have been swamped away in the Budget Tsunami.

Those who have been reading my outlook for a slightly longer period will remember that I had been inherently and vehemently bearish on the markets for months now. I had only turned bullish a few days before the Budget in anticipation of a Pre-Budget rally and a meltdown post the event. When the markets fell on Thursday & Friday, I upped the bullish ante with the expectations of a massive short-covering post the event. Unfortunately, the markets reacted very negatively post the event and we are left with an almost 5% cut on the Sensex & the Nifty week on week.

Going forward, I'm still expecting a bounce/rally from the current levels. We will see substantial short-covering/bottom fishing at the current levels as the market takes notice of some of the finer/better budget proposals in the coming few days.

The near term outlook is bullish and the short to medium-term outlook continues to be bearish. We continue to add stock-specific longs in the large-cap space.

Index Levels 
S2           39,536           11,603
S1           39,631           11,631
Previous Close      39,735.53      11,661.85
R1           40,047           11,753
R2           40,091           11,766
Fair Value           34,682           10,179
GenerateChart (1).png
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Sunday, June 30, 2019

The Sensex Outlook for the Week Starting - 01-07-2019

The markets have broken multiple support levels to land where there are currently poised.The region from the current levels to 39675-39722 (11873-11887) is fraught with resistances. It will taken an Herculean effort by the bulls to cross the 39675-39722 (11873-11887) zone anytime soon.
Its best to remain short on the markets while looking for stock specific opportunities in the Top-100 Universe.

As regards to the Union Budget on Friday,  expect the same to consolidate on the proposals of the interim budget presented earlier in the year. It will be sane to not have any expectations from the Budget or expect a Pre-Budget Rally in the markets.

Index Levels to Watch & Fair Value
Date 01-Jul-19
Index Sensex Nifty
S2            39,006           11,673
S1            39,343           11,773
Previous Close     39,394.64    11,788.85
R1            39,426           11,798
R2            39,459           11,808
Fair Value 28,722 8,595

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Monday, January 29, 2018

The Sensex Outlook for the Week Starting 29-01-2018

The rally may be in its last stages yet or not, but there is some upside left - possibly a touch and go at ~37000/11350.The Sensex faces immediate resistance at 36088 and the conservative & aggressive SL levels are 35932 and 35823 respectively.

Previous Close                      36,050.44                11,069.65
Fair Value28,2338,669

Devansh @ Raghav's Picks
Disclaimer and Exclusion of Liability -  

Sunday, January 14, 2018

The Sensex Outlook for the Week Starting 15-01-2018

After the so-called Santa & New Year Rally's, its now time for the Pre-Budget Rally. However as we head into uncharted territories, the ride gets dizzying.

Any dips should be used to build small - staggered longs and continue to hold on to your longs too.

The near term market outlook will turn to negative only with a close below 34003.

Keep a SL for all existing & fresh longs below 34510 (conservative) or 34351 (aggressive).

Previous Close 34,592.39 10,681.25
Fair Value27,6948,551

Devansh @ Raghav's Picks
Disclaimer and Exclusion of Liability -  

Thursday, February 4, 2016

The Sensex Outlook for the Day - 04-02-2016

In the extreme near term the Sensex will be guided solely by global cues. The premise of great February mention earlier in this column is based on the expectations of a pre-budget rally and these expectations have not been negated yet. Aggressive investors can continue to build longs with a trailing stop loss at 24000.

Sensex Previous Close
Sensex Fair Value

Friday, February 6, 2015

Sensex Outlook for 06-02-2015

The Sensex continues to consolidate, before making a major upmove before the budget.The range for the day should be 28753 to 29222.

Date 06-Feb-15
S2 28,753
S1 28,826
Sensex Previous Close                           28,850.97
R1 28,961
R2 29,222
Medium Term Fair Value (6-12 months) 29,986


--Raghvendra Narendra

Disclaimer and Exclusion of Liability -

Tuesday, February 3, 2015

Sensex Outlook for 04-02-2015

As long as 28900 is not broken on close, the Sensex is on track for the pre budget target of 30300.Use all dips to buy accordingly.
Date 04-Feb-15
S2 28,900
S1 28,976
Sensex Previous Close                           29,000.14
R1 29,051
R2 29,253
Medium Term Fair Value (6-12 months) 30,249

Disclaimer and Exclusion of Liability -

The Sensex Outlook for the day - 03-02-2015

The Sensex will continue to consolidate between 29000-29300, but with a positive bias.Buy on dips for a pre-budget rally target of 30300,keeping a stop-loss at 28960.
Date 03-Feb-15
S2 28,959
S1 29,116
Sensex Previous Close                  29,122.27
R1 29,136
R2 29,268
Medium Term Fair Value (6-12 months) 30,300

Disclaimer and Exclusion of Liability -

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