With the near-term targets for the markets achieved last week, expect a corrective move in the markets till 31000/9050.
Traders can do well to remain short on the NIFTY with a closing SL at 33900/9910. There will be pockets of strengths in individual stocks, so traders can be careful/choosy in shorting individual stocks.
Having said that, expect a resumption of the uptrend towards the end of the week which could take the markets towards 37000/10800 towards the end of the month.
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
|
04-May-20
| |
Index
|
Sensex
|
Nifty
|
S2
|
33,609
|
9,828
|
S1
|
33,653
|
9,841
|
Previous Close
|
33,717.62
|
9,859.90
|
R1
|
33,802
|
9,885
|
R2
|
34,555
|
10,105
|
Fair Value
|
33,684
|
9,850
|
--
By reading this, you are agreeing to the Disclaimer and Exclusion of Liability at http://www.raghavs-picks.
