Sunday, May 10, 2020

The Sensex Outlook for the Week Starting - 11-05-2020

Slowly but surely and with a lot of volatility thrown in, the markets will now start moving towards ~37000/10800 in the coming days/weeks. The move from these levels will not be straight or linear.
Conservative traders can wait for clearer signals before initiating fresh longs in these markets.
However aggressive traders can initiate fresh longs at the current levels and on dips till 31470/9200, keeping a final closing SL at 31160/9110 for all long positions.
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
11-May-20
Index
Sensex
Nifty
S2
           31,470
             9,201
S1
           31,576
             9,232
Previous Close
      31,642.70
        9,251.50
R1
           31,776
             9,291
R2
           31,843
             9,310
Fair Value
           33,416
             9,770
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