Tuesday, June 2, 2020

The Sensex Outlook for the Day 02-06-2020

The markets are very close to the near term targets of 33800/10000, expect some consolidation/profit-booking before the markets move towards/cross the targets.
Remain long/add to your longs at every dip with a closing SL of 32870/9700. 
The stocks leading the next leg of the rally will keep on changing/rotating, so if you are not sure of which stock/sector to stay invested in - it will be better to stick to NIFTY futures.
Conservative traders can keep a closing SL at the support levels given below for intraday long positions.
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.


Date02-Jun-20
IndexSensexNifty
S2           33,010             9,740
S1           33,285             9,821
Previous Close      33,303.52        9,826.15
R1           33,550             9,899
R2           33,581             9,908
Fair Value           32,809             9,680



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