Sunday, June 7, 2020

The Sensex Outlook for the Week Starting 08-06-2020

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.

Date8-Jun-20
IndexSensexNifty
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

SENSEX.jpeg
--

By reading this, you are agreeing to the Disclaimer and Exclusion of Liability at http://www.raghavs-picks.com/disclaimer.JPG 

 

Subscribe via email

Enter your email address:

Delivered by FeedBurner