Monday, July 20, 2020

The Sensex Outlook for the Week Starting 20-07-2020

The markets are now at the dream levels of 37000/10900 - the levels we have talked about a lot in the past on this column. 
The levels also mark the top for the markets - short term frenzy may take the indices a few notches higher, but the trend will now favour the bears.
We initiated shorts on the NIFTY towards the fag end of Thursday's trade, followed by more shorts on Friday which will continue to hold / add on to, for the initial targets of 10500 in the coming days.

We continue to hold stock-specific long positions as well as shorts

Date20-Jul-20
IndexSensexNifty
S2           36,886           10,862
S1           36,920           10,872
Previous Close      37,020.14      10,901.70
R1           37,126           10,933
R2           37,238           10,966
Fair Value           31,276             9,210

Raghav's Picks Trading Range Indicator  BANKNIFTY.png
Raghav's Picks Trading Range Indicator NIFTY.png
Raghav's Picks Trading Range Indicator SENSEX.png
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