Friday, May 22, 2020

The Sensex Outlook for the Day - 22-05-2020

Even though the markets closed marginally higher - they looked like losing momentum at the higher levels. The undertone, however, remains positive for now.

For the day, the levels of 30650 (9023) and 30977 (9119) are important levels to watch for. Any move outside this range will propel the markets further in that direction.

Even though we have a long weekend coming up, aggressive traders can carry over their long positions if the markets manage to stay above the support levels as above.

Avoid stocks outside the F&O universe.


Date22-May-20
IndexSensexNifty
S2           30,649             9,023
S1           30,895             9,095
Previous Close      30,932.90        9,106.25
R1           30,962             9,115
R2           31,015             9,131
Fair Value           33,252             9,789

Raghav's Picks Trading Range Indicator.png



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