Monday, July 27, 2020

The Sensex Outlook for the Day 28-07-2020

The markets need to move out of the 37769-38245 (11083-11223) band before making a clear up or down move. Within this range, the markets are in a state of indecisiveness and can move either way.
However, I expect them to move in the lower direction.
We continue to hold NIFTY shorts with no SL at the moment.  
In stocks, we have an almost equal number of longs as well as shorts - which we will carry over into the August series.

Date28-Jul-20
IndexSensexNifty
S2           37,602           11,034
S1           37,752           11,078
Previous Close      37,934.73      11,131.80
R1           38,000           11,151
R2           38,022           11,158
Fair Value           31,171             9,147

SENSEX.png

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