Friday, May 8, 2020

The Sensex Outlook for the Day - 08-05-2020

We continue to remain long on the markets for a near term target of ~32150/9400.
Keep a closing SL at 31400/9180 for all long positions.

Aggressive traders can carry over their long positions over the weekend subject to the closing SL as above.

Avoid trading in stocks outside the F&O universe and keep SL at the stock level as well as at the Sensex/Nifty level.


Date
08-May-20
Index
Sensex
Nifty
S2
           31,308
             9,160
S1
           31,391
             9,184
Previous Close
      31,443.38
        9,199.05
R1
           31,504
             9,217
R2
           31,575
             9,237
Fair Value
           33,683
             9,854

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