Being an event heavy day - expect more than the usual volatility. The markets will consolidate in a range of 32800-33900 (9690-10000). Only a move outside of this band will take the markets further up or down in the direction of the move. However, I will stick my neck out and trade for an upward breakout from this band. Trade on the long side of the markets with a closing SL at 32950 (9730).
As I have mentioned in the past also, even if you trade only in the cash segment and not in Futures & Options, do not trade outside the universe of the F&O permitted stocks.
| Date | 17-Jun-20 | |
| Index | Sensex | Nifty |
| S2 | 33,527 | 9,891 |
| S1 | 33,538 | 9,894 |
| Previous Close | 33,605.22 | 9,914.00 |
| R1 | 33,680 | 9,936 |
| R2 | 33,850 | 9,986 |
| Fair Value | 32,906 | 9,708 |
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