Friday, July 3, 2020

The Sensex Outlook for the Day 03-07-2020

The near term targets of ~35700/10500 have been achieved, but the markets are still having the momentum to take a shot at  ~37000/10900 in the coming days.
Since we had exited all NIFTY long positions yesterday, we will re-enter NIFTY longs today or on Monday for the above targets keeping a closing SL at 35110/10335.
The stock-specific longs we continue to carry are not dependant on the NIFTY.

Date03-Jul-20
IndexSensexNifty
S2           35,701           10,510
S1           35,818           10,544
Previous Close      35,843.70      10,551.70
R1           35,929           10,577
R2           36,173           10,649
Fair Value           31,604             9,304

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