Wednesday, July 1, 2020

The Sensex Outlook for the Day 01-07-2020

The region around 35200/10400 is a resistance zone for the markets & we have seen the markets consistently reverse from there. At the same time, ~34800/10270 is a support zone from where we have seen the markets bounce back strongly in the past.
Our near/short term outlook for the market remains unchanged - Remain long on the markets for a target of ~35700/10500, keeping a CLOSING SL at 34755/10255.
As long as the SL levels are not breached on a closing basis, aggressive traders can remain long for a target of ~37000/10900 as the short term top for the markets.
Date01-Jul-20
IndexSensexNifty
S2           34,795           10,266
S1           34,893           10,296
Previous Close      34,915.80      10,302.10
R1           34,952           10,313
R2           34,988           10,323
Fair Value           32,327             9,538

Raghav's Picks Trading Range Indicator.png

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