Thursday, May 21, 2020

The Sensex Outlook for the Day - 21-05-2020

The bullish outlook of the last few days has been partly vindicated but the near term rally is far from over for now.

Use any opening dips to add to your longs - depending on your risk appetite, keep a closing SL at 30618/9008 or 30535/8983 and remain long for the next targets of 31100/9150. 


Traders, both conservative and aggressive, need to take a calibrated approach in their longs so that they can withstand the daily volatility as well as associated MTM pressures while remaining long on the NIFTY for the short term targets of 31925/9390.

Avoid stocks outside the F&O universe.

Date21-May-20
IndexSensexNifty
S2           30,618             9,008
S1           30,653             9,018
Previous Close      30,818.61        9,066.55
R1           30,878             9,084
R2           30,956             9,107
Fair Value           33,422             9,832


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