Market Data

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.

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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