Friday, May 29, 2020

The Sensex Outlook for the Day - 29-05-2020

To a layman, the targets of 32200/9500 were taken almost effortlessly yesterday - the same day I mentioned these targets in this column.

However, those who read this will know the trials endured and the volatile cycles crossed before reaching here.

Going forward, the next targets for the markets are 33000/9700 - barring a few phases of corrections/profit-booking every now and then
Remain long/add to your longs at every dip. 


Conservative traders can keep a SL at 31470/9275. Keep your stop loss at the individual stock as well as the market levels.

As I have been repeatedly saying - Avoid stocks outside the F&O universe.


Date29-May-20
IndexSensexNifty
S2           31,955             9,418
S1           32,037             9,442
Previous Close      32,200.59        9,490.10
R1           32,245             9,503
R2           33,039             9,737
Fair Value           33,576             9,895

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