The month of June has had a great start for the markets, but going forward, we have a few speed breakers lined up.
The region from 34400-34489 (10175-10200) is a very strong resistance zone for the markets. If these levels are taken out, then the rally will pause only at ~35500/10500.
However, if the markets fail to cross these levels convincingly, we could see a consolidation followed by a steep fall possibly up to 33900/10030 or lower.
On the downside 32900/9730 will be a good level to get into fresh long positions.
We continue to stock-specif long and short positions which will move towards their respective targets in spite of the overall market direction.
| Date | 8-Jun-20 | |
| Index | Sensex | Nifty |
| S2 | 34,182 | 10,111 |
| S1 | 34,217 | 10,121 |
| Previous Close | 34,287.24 | 10,142.15 |
| R1 | 34,401 | 10,176 |
| R2 | 34,489 | 10,202 |
| Fair Value | 32,924 | 9,739 |
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