Market Data

Showing posts with label upside capped. Show all posts
Showing posts with label upside capped. Show all posts

Friday, February 22, 2019

The Sensex Outlook for the Day 22-02-2019

The Sensex did cross and hold above the hurdle level of 35800 yesterday.Going forward as long as the Sensex manages to hold 35851, we will not initiate fresh shorts - even though the rally from the last 2 trading sessions may have run its course or will complete its course today.

Date 22-Feb-19
Index Sensex Nifty
S2          35,669         10,721
S1          35,863         10,779
Previous Close   35,898.35   10,789.85
R1          36,019         10,826
R2          36,088         10,847
Fair Value 32,219 9,684


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Sunday, February 17, 2019

The Sensex Outlook for the Week Starting 18-02-2019

The markets bounced off 35511 on Friday and closed the week with a net loss of ~737 (219 on the Nifty) points. 
The low of Friday will serve as a support in the immediate future, however the upsides remain capped as there are a string of resistances from 35906 to 36054 which will unleash fresh and relentless selling every-time the markets come close.

The Geo-political tensions in the aftermath of the unfortunate Terror attacks have brought in a heightened uncertainty to the markets which were in a downtrend in anycase.

The trading range of ~35500-36100 will break on the lower side in the days to come. However, we will continue to see intermittent rally's and bounce-back's which can be safely sold into.

We continue to hold NIFTY PUTS and wait to look at stock specific opportunities.

Date 18-Feb-19
Index Sensex Nifty
S2          35,758         10,709
S1          35,781         10,716
Previous Close   35,808.95   10,724.45
R1          35,831         10,731
R2          35,906         10,754
Fair Value 32,461 9,722


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Friday, November 16, 2018

The Sensex Outlook for the Day - 16-11-2018

The Sensex came tantalizingly close to the magic level of 35410, but chose to close lower. Aggressive traders can short the opening rise,if any. Others can wait for Monday to initiate aggressive short positions on the indices. Do not be carried away with any rally/rise - the markets may come very close to levels where the near term trend changes to positive, but they will not convincingly cross/sustain above these levels anytime soon.

Date 16-Nov-18
Index Sensex Nifty
S2 35,182 10,594
S1 35,221 10,606
Previous Close   35,260.54 10,616.70
R1 35,314 10,634
R2 35,402 10,660
Fair Value 31,508 9,488

Wednesday, October 17, 2018

The Sensex Outlook for the Day - 17-10-2018

The pull-back/rally from the lows of 33724 now faces its biggest resistance at 35401.The key to further upside lies in closing above and sustaining 35401 till atleast Monday.
Personally, I doubt that happening and I continue to hold on to puts/short positions. 
For the day, only aggressive traders can initiate small intraday longs with a strict SL. 

Date 17-Oct-18
Index Sensex Nifty
S2 35,063 10,555
S1 35,097 10,565
Previous Close   35,162.48 10,584.75
R1 35,216 10,601
R2 35,401 10,657
Fair Value 32,151 9,678

Wednesday, October 10, 2018

The Sensex Outlook for the Day - 10-10-2018

The markets couldnt sustain the resistances at higher levels yesterday and tumbled.For now play the trading range between 34000 to 34500-34600.
Date 10-Oct-18
Index Sensex Nifty
S2 34,137 10,251
S1 34,234 10,280
Previous Close   34,299.47 10,301.05
R1 34,358 10,318
R2 34,384 10,326
Fair Value 32,144 9,653

Tuesday, October 9, 2018

The Sensex Outlook for the Day - 09-10-2018

The region upto 35000 is fraught with resistances. Dont see the markets taking out those resistances anytime soon. At the same time, with vulnerable supports till 34400, 
we shall see volatile consolidation with a very negative undertone. Its a short on rise market for now.

Date 09-Oct-18
Index Sensex Nifty
S2 34,400 10,327
S1 34,442 10,340
Previous Close   34,474.38 10,348.05
R1 34,474 10,350
R2 34,636 10,398
Fair Value 32,132 9,646

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