Wednesday, June 17, 2020

The Sensex Outlook for the Day 17-06-2020

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.

Date17-Jun-20
IndexSensexNifty
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

Raghav's Picks Trading Range Indicator.png
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