Friday, July 17, 2020

The Sensex Outlook for the Day 17-07-2020

The markets are now in a sell/short rise zone till 10800.
We initiated shorts on the NIFTY towards the end of trade yesterday and continue to remain short on the NIFTY for targets of 10550-10500.
The bearish outlook as above will be negated with a close above 36776/10829. Keep a closing SL at these levels for your NIFTY short positions.

We continue to hold stock-specific long positions.

Date17-Jul-20
IndexSensexNifty
S2           36,409           10,722
S1           36,453           10,734
Previous Close      36,471.68      10,739.95
R1           36,525           10,756
R2           36,928           10,785
Fair Value           31,292             9,215

Raghav's Picks Trading Range Indicator.png

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