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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