Friday, June 12, 2020

The Sensex Outlook for the Day 12-06-2020

From the intraday highs of ~34200/10100, the markets corrected all the way to break and close below the previously given SL levels of 33700/9960.The fact that global cues are hugely negative this morning is not going to help things either. However, the markets should stabilize after the expected gap-down and give intraday long / BTST opportunities.

Trade only as per your risk appetite and temperament - the near term outlook is volatile but the short term outlook continues to be bullish. So take your trades accordingly, keeping in mind your holding capacity as well. Your trades should not be driven by a sense of Bravado or to avoid a feeling of being left out.

Our longs are majorly concentrated in few stocks which will be relatively stable/outperform in the near term as well as short term.
Date12-Jun-20
IndexSensexNifty
S2           32,923             9,720
S1           33,509             9,893
Previous Close      33,538.37        9,902.00
R1           33,746             9,963
R2           33,804             9,981
Fair Value           33,230             9,811

Raghav's Picks Trading Range Indicator.png

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