Monday, June 1, 2020

The Sensex Outlook for the Week Starting 01-06-2020

The rally which started @ ~29960/8855 levels had a dream run last week. 
Going forward, the markets will possibly touch ~33800/10000 in the coming weeks - yes there will be periods of corrections/profit-booking, but the underlying trend will remain UP as long as 31450/9300 is not broken on a closing basis. 
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.


Date1-Jun-20
IndexSensexNifty
S2           32,243             9,527
S1           32,350             9,558
Previous Close      32,424.10        9,580.30
R1           32,462             9,591
R2           32,558             9,620
Fair Value           33,294             9,837



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